Slides
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1 Third Quarter 2025 Financial Results (unaudited) November 12, 2025
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This presentation and the accompanying oral presentation include “forward- looking statements” that reflect our current expectations and views of future events. These forward-looking statements are made under the “safe harbor” provisions of the U.S. Private Securities Litigation Reform Act of 1995 and include but are not limited to, statements regarding our financial outlook, future guidance, product development, business strategy and plans, and market trends, opportunities and positioning. These statements are based on current expectations, assumptions, estimates, forecasts, projections and limited information available at the time they are made. Words such as “expect,” “anticipate,” “should,” “believe,” “hope,” “target,” “project,” “goals,” “estimate,” “potential,” “predict,” “may,” “will,” “might,” “could,” “intend,” “shall,” “outlook,” “on track” and variations of these terms or the negative of these terms and similar expressions are intended to identify these forward-looking statements, although not all forward-looking statements contain these identifying words. Forward- looking statements are subject to a broad variety of risks and uncertainties, both known and unknown. Any inaccuracy in our assumptions and estimates could affect the realization of the expectations or forecasts in these forward-looking statements. For example, our business could be impacted by geopolitical conditions such as the ongoing political and trade tensions with China and the continuation of conflicts in Ukraine and Israel; ongoing political developments in the United States, and in particular, any political and policy-related changes that may impact our industry and the market generally, such as the imposition of trade controls, tariffs and counter-tariffs between the United States and its trade partners and new legislation, including the One Big Beautiful Bill Act; the market for our products may develop or recover more slowly than expected or than it has in the past; we may fail to achieve the full benefits of our restructuring plan; our operating results may fluctuate more than expected; there may be significant fluctuations in our results of operations and cash flows related to our revenue recognition or otherwise; a network or data security incident that allows unauthorized access to our network or data or our customers’ data could result in a system disruption, loss of data or damage our reputation; we could experience interruptions or performance problems associated with our technology, including a service outage; global economic conditions could deteriorate, including due to rising inflation and any potential recession; the expected benefits of our announced partnerships may fail to materialize; and our expected results and planned expansions and operations may not proceed as planned if funding we expect to receive (including the planned awards under the U.S. CHIPS and Science Act and New York State Green CHIPS) is delayed or withheld for any reason. It is not possible for us to predict all risks, nor can we assess the impact of all factors on our business or the extent to which any factor, or combination of factors, may cause actual results or outcomes to differ materially from those contained in any forward-looking statements we may make. Moreover, we operate in a competitive and rapidly changing market, and new risks may emerge from time to time. You should not rely upon forward- looking statements as predictions of future events. These statements are based on our historical performance and on our current plans, estimates and projections in light of information currently available to us, and therefore you should not place undue reliance on them. Disclaimer - Forward-looking statements and Third-Party Data Although we believe that the expectations reflected in our statements are reasonable, we cannot guarantee that the future results, levels of activity, performance or events and circumstances described in the forward-looking statements will be achieved or occur. Moreover, neither we, nor any other person, assumes responsibility for the accuracy and completeness of these statements. Recipients are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date such statements are made and should not be construed as statements of fact. Except to the extent required by federal securities laws, we undertake no obligation to update any information or any forward-looking statements as a result of new information, subsequent events or any other circumstances after the date hereof, or to reflect the occurrence of unanticipated events. For a discussion of potential risks and uncertainties, please refer to the risk factors and cautionary statements in our 2024 Annual Report on Form 20-F, current reports on Form 6-K and other reports filed with the Securities and Exchange Commission (SEC). Copies of our SEC filings are available on our Investor Relations website, investors.gf.com, or from the SEC website, www.sec.gov. This presentation and the accompanying oral presentation also contain estimates and other statistical data made by independent parties and by us relating to market size and growth and other data about our industry and business. This data involves a number of assumptions and limitations, and you are cautioned not to give undue weight to such estimates. We have not independently verified the industry data generated by independent parties and contained in this presentation and, accordingly, we cannot guarantee their accuracy or completeness. In addition, projections, assumptions and estimates of our future performance and the future performance of the markets in which we compete are necessarily subject to a high degree of uncertainty and risk. In addition to the financial information presented in accordance with International Financial Reporting Standards ("IFRS"), this press release includes the following Non-IFRS financial measures: Non-IFRS gross profit, Non-IFRS operating profit, Non-IFRS operating expense, Non-IFRS net income, Non-IFRS selling, general and administrative, Non-IFRS research and development, Non-IFRS other income (expense), Non-IFRS income tax benefit (expense), Non-IFRS diluted earnings per share (“EPS”), Non-IFRS adjusted EBITDA, Non-IFRS adjusted free cash flow and any related margins. We define each of Non-IFRS gross profit, Non-IFRS selling, general and administrative, Non-IFRS research and development, Non-IFRS operating profit, Non-IFRS other income (expense), Non-IFRS income tax benefit (expense) and Non-IFRS net income as gross profit, selling, general and administrative, research and development, operating profit, other income (expense), income tax benefit (expense), and net income, respectively, adjusted for share-based compensation, structural optimization, amortization of acquired intangibles and other acquisition related charges, impairment of long-lived assets, litigation charges, revaluation of equity investments, restructuring charges, tax matters, and any associated income tax effects. We define Non-IFRS operating expense as Non-IFRS gross profit minus Non-IFRS operating profit. We define Non-IFRS diluted EPS as Non-IFRS net income divided by the diluted shares outstanding. We define Non-IFRS adjusted free cash flow as cash flow provided by (used in) operating activities less purchases of property, plant and equipment and intangible assets plus proceeds from government grants related to capital expenditures. We define Non-IFRS adjusted EBITDA as net income adjusted for the impact of finance expense, finance income, income tax expense (benefit), depreciation and amortization, share-based compensation, restructuring charges, impairment of long-lived assets, revaluation of equity investments, structural optimization, litigation claims and acquisition related charges. We define each of Non-IFRS gross margin, Non-IFRS operating margin, Non-IFRS net income margin, Non-IFRS adjusted free cash flow margin and Non-IFRS adjusted EBITDA margin as Non-IFRS gross profit, Non-IFRS operating profit, Non-IFRS net income, Non-IFRS adjusted free cash flow and Non-IFRS adjusted EBITDA, respectively, divided by net revenue. Any adjustments described above that are zero for a given period are excluded from the “Reconciliation of IFRS to Non-IFRS” table. See "Reconciliation of IFRS to Non-IFRS" section for a detailed reconciliation of Non-IFRS financial measures to the most directly comparable IFRS measure. We believe that in addition to our results determined in accordance with IFRS, these Non-IFRS financial measures provide useful information to both management and investors in measuring our financial performance and highlight trends in our business that may not otherwise be apparent when relying solely on IFRS measures. These Non-IFRS financial measures provide supplemental information regarding our operating performance that excludes certain gains, losses and non-cash charges that occur relatively infrequently and/or that we consider to be unrelated to our core operations. Management believes that Non-IFRS adjusted free cash flow as a Non-IFRS measure is helpful to investors as it provides insights into the nature and amount of cash the Company generates in the period. Non-IFRS financial information is presented for supplemental informational purposes only and should not be considered in isolation or as a substitute for financial information presented in accordance with IFRS. Our presentation of Non-IFRS measures should not be construed as an inference that our future results will be unaffected by unusual or nonrecurring items. Other companies in our industry may calculate these measures differently, which may limit their usefulness as comparative measures.
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Results and Highlights
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$1.69B ↓ (3)% Y/Y 4 (1) See the Appendix for a detailed reconciliation of Non-IFRS measures to the most directly comparable IFRS measure and for a discussion of why we believe these Non-IFRS measures are useful. Third Quarter 2025 Results Non-IFRS Gross Margin (1) 26.0% ↑ 130bps Y/Y Non-IFRS Earnings per Share(1) $0.41 Flat Y/Y Revenue
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5 Q3 2025 results at the high end of non-IFRS guidance ranges ~27% adjusted free cash flow margin(1) in the quarter Fourth consecutive quarter of double digit % year-over-year revenue growth in Automotive & CID >50% year-over-year growth in design wins(2), over 90% sole- sourced over last 4 quarters Key Highlights » » » » (1) See the Appendix for a detailed reconciliation of Non-IFRS measures to the most directly comparable IFRS measure and for a discussion of why we believe these Non-IFRS measures are useful. (2) A DWIN, or design win, is defined as the successful completion of the evaluation stage, where a customer has assessed our technology solution, verified that it meets its requirements, qualified it for their products and confirmed to us their selection.
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Key Announcements
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“CBIC represents a major milestone in our SiGe roadmap, setting a new benchmark for performance for the broad spectrum of high-growth markets that rely on advanced RF technologies for high-speed, energy-efficient connectivity.” Shankaran Janardhanan, SVP RF, GF GF's New SiGe Technology to Serve Multiple Markets CBIC is capable of addressing multiple key markets including smartphones, wireless infrastructure, optical networking, satellite communications & industrial IoT. Key Announcements Enables high resolution sensing and distance ranging Delivers high gain-bandwidth at lower power Reduces consumption while maintaining low noise figure 7 Expected Features:
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GF and Silicon Labs Expand Partnership in U.S. Key Announcements Reinforcing U.S. semiconductor resilience, GF will manufacture high-performance wireless system- on-chips (SoCs) on its newly introduced 40nm Ultra Low Power platform out of Malta, New York. “This collaboration underscores our shared commitment to innovation and U.S. manufacturing leadership – addressing rising demand for our Series 2 products and strengthening global supply chain resilience to deliver competitive, secure and scalable wireless solutions for our customers.” Matt Johnson, President and CEO, Silicon Labs Advancing the development of next-gen, energy- efficient wireless technologies Furthering a more resilient, geographically diverse supply chain Introducing a first of its kind process technology in the U.S. 8 Expected Outcomes:
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GF Reinforcing Supply Resilience in Europe Key Announcements This €1.1 billion investment will expand manufacturing capabilities at the Dresden site, with production capacity to increase to more than one million wafers per year by the end of 2028. “The investment in chip manufacturing in Dresden sends a signal that Germany wants to play an active role in shaping the development of the global semiconductor market.” German Chancellor Friedrich Merz Largest manufacturing facility of its kind in Europe End-to-end processes and data flows for critical security requirements Support from German federal government and the State of Saxony 9 Expected Outcomes:
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End Markets
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Launched our new CBIC platform, with strong engagement with multiple leading fabless RF companies. Driven by share gains and content gains, we are on track to grow Automotive by mid-teens percentage year-over-year in 2025. Reinforcing U.S. semiconductor resilience, GF will manufacture high- performance wireless SoCs out of Malta, NY. W e n o w e x p e c t f u l l - y e a r 2025 CID revenue to grow i n t h e l o w - 2 0 s p e r c e n t a g e range, up from our prior h i g h - t e e n s o u t l o o k . Smart Mobile Devices » Automotive » Home and Industrial IoT » Communications Infrastructure and Data Center » 11 End Market Commentary 9 Com
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Q3'25 Key Design Wins Platform Application CBIC Low noise amplifier BCD Audio amplifier FDX Smart glasses display Q3'25 Revenue $752M ↓ (13)% Y/Y 12 Smart Mobile Devices End Market Commentary Driven by the flexibility of GF's global footprint, we secured our first NOR Flash Memory design win with a leading Chinese fabless company for next gen mobile and wearables.
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Q3'25 Revenue $306M ↑ 20% Y/Y 13 Automotive Q3'25 Key Design Wins Platform Application ESF3 Battery mgmt. & drive train SPCLO Optical networking FDX Ethernet switch End Market Commentary In Q3, we signed an MOU with Hyundai that leverages GF's deep semiconductor expertise to make next-generation vehicles smarter, more connected, and power-efficient.
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Q3'25 Revenue $258M ↓ (16)% Y/Y 14 Q3'25 Key Design Wins Platform Application FinFET Next-gen secure processor BCD Charging & consumer PMICs BCD Medical CGM End Market Commentary Partnered with Egis to produce the latest generation of direct time-of-flight smart sensors on GF's BCD platform in Singapore. Home and Industrial IoT
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Q3'25 Revenue $175M ↑ 32% Y/Y 15 Communications Infrastructure and Data Center Q3'25 Key Design Wins Platform Application SiGe 9HP TIA/Driver FDX Fixed wireless access 650V GaN Data center power delivery End Market Commentary In Q3, we secured three new optical networking design wins that deepen our position in n e x t - g e n e r a t i o n o p t i c a l interconnects that are critical to AI data center growth.
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(Unaudited, in millions USD) Year-over-year Sequential Q3'25 Q2'25 Q3'24 Q3'25 vs Q3'24 Q3'25 vs Q2'25 Smart Mobile Devices $ 752 $ 683 $ 868 $ (116) (13)% $ 69 10% Communications Infrastructure and Data Center $ 175 $ 171 $ 133 $ 42 32% $ 4 2% Home and Industrial IoT $ 258 $ 300 $ 308 $ (50) (16)% $ (42) (14)% Automotive $ 306 $ 368 $ 256 $ 50 20% $ (62) (17)% Non-Wafer Revenue $ 197 $ 166 $ 174 $ 23 13% $ 31 19% Revenue $ 1,688 $ 1,688 $ 1,739 $ (51) (3)% $ — —% 16 Q3'25 Revenue by End Market ((Unaudited, in millions)
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Q3'25 Revenue Mix by End Market 9(Unaudited) 50% 7% 18% 15% 10% 45% 10% 15% 18% 12% Q3'24Q3'25 Smart Mobile Devices Communications Infrastructure and Data Center Home and Industrial IoT Automotive Non-Wafer & Corporate Other 17
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Capex and Cash Flow ▪ GF continues to generate consistent adjusted free cash flow with strong balance sheet fundamentals. ▪ GF delivered approximately 27% adjusted free cash flow margin in the third quarter. Year-to-Date Through Q3'25 Cash flow from operations $1,357M Capital expenditures $514M (10% of Revenue) Adjusted FCF(1) $893M (18% of Revenue) Cash, cash equivalent and marketable securities $4.2B at the end of Q3’25 (1) See the Appendix for a detailed reconciliation of Non-IFRS measures to the most directly comparable IFRS measure and for a discussion of why we believe these Non-IFRS measures are useful. 18
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19 Outlook
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Q4’25 Guidance(1) (Unaudited, in millions USD, except per share amounts) (1) The Guidance provided contains forward-looking statements as defined in the U.S. Private Securities Litigation Act of 1995, and is subject to the safe harbors created therein. The Guidance includes management's beliefs and assumptions and is based on information that is available as of the date of this release. (2) Non-IFRS gross margin, Non-IFRS operating expenses, Non-IFRS operating margin and Non-IFRS diluted EPS are Non-IFRS measures and, for purposes of the Guidance only, are defined as gross profit as a percent of revenue, operating profit as a percent of revenue, operating expenses and diluted EPS, all before share-based compensation, respectively. See "Financial Measures (Non-IFRS)" for further discussion on these Non-IFRS measures and why we believe they are useful. (3) We expect share-based compensation of $16 million and $47 million in cost of revenue and operating expenses, respectively. The Non-IFRS margin impacts are calculated by dividing share-based compensation by net revenue, and the Non-IFRS diluted EPS impact is calculated by dividing share-based compensation by the fully diluted share count. (4) Included in diluted EPS is net interest income (expense) and other income (expense) which we estimate will be between $4 million and $12 million for the fourth quarter 2025. Also included in diluted EPS is income tax expense which we estimate will be between $40 million and $62 million for the fourth quarter 2025. IFRS Share-Based Compensation(3) Non-IFRS(2) Net Revenue $1,800 ± $25 Gross Margin(2) 27.6% ± 100bps ~90bps 28.5% ± 100bps Operating Expenses(2) $257 ± $10 ~$47 $210 ± $10 Operating Margin(2) 13.3% ± 180bps ~350bps 16.8% ± 170bps Diluted EPS(2)(4) $0.35 ± $0.05 ~$0.12 $0.47 ± $0.05 Fully Diluted Share Count ~559 20
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Appendix: Summary Financials and Reconciliations
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(Unaudited, in millions, except per share data and wafer shipments) (1) See the Appendix for a detailed reconciliation of Non-IFRS measures to the most directly comparable IFRS measure and for a discussion of why we believe these Non-IFRS measures are useful. Year-over-year Sequential Q3'25 Q2'25 Q3'24 Q3'25 vs Q3'24 Q3'25 vs Q2'25 Net revenue $ 1,688 $ 1,688 $ 1,739 $ (51) (3%) $ — — % Gross profit $ 419 $ 408 $ 414 $ 5 1 % $ 11 3 % Gross margin 24.8% 24.2% 23.8% +100bps +60bps Non-IFRS gross profit(1) $ 439 $ 425 $ 429 $ 10 2 % $ 14 3 % Non-IFRS gross margin(1) 26.0% 25.2% 24.7% +130bps +80bps Operating profit $ 195 $ 196 $ 185 $ 10 5% $ (1) (1) % Operating margin 11.6% 11.6% 10.6% +100bps 0bps Non-IFRS operating profit(1) $ 260 $ 258 $ 236 $ 24 10% $ 2 1 % Non-IFRS operating margin(1) 15.4% 15.3% 13.6% +180bps +10bps Net income $ 249 $ 228 $ 178 $ 71 40% $ 21 9 % Net income margin 14.8% 13.5% 10.2% +460bps +130bps Non-IFRS net income(1) $ 232 $ 234 $ 229 $ 3 1% $ (2) (1) % Non-IFRS net income margin(1) 13.7% 13.9% 13.2% +50bps (20)bps Diluted earnings per share ("EPS") $ 0.44 $ 0.41 $ 0.32 $ 0.12 38% $ 0.03 7 % Non-IFRS diluted EPS(1) $ 0.41 $ 0.42 $ 0.41 $ — —% $ (0.01) (2) % Non-IFRS adjusted EBITDA(1) $ 573 $ 585 $ 627 $ (54) (9) % $ (12) (2) % Non-IFRS adjusted EBITDA margin(1) 33.9% 34.7% 36.1% (220)bps (80)bps Cash from operations $ 595 $ 431 $ 375 $ 220 59 % $ 164 38 % Wafer shipments (300MM Equivalent) (in thousands) 602 581 549 53 10 % 21 4 % 22 Q3'25 Financial Summary
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Statement of Operations Three Months Ended September 30, 2025 June 30, 2025 September 30, 2024 Net revenue $ 1,688 $ 1,688 $ 1,739 Cost of revenue 1,269 1,280 1,325 Gross profit $ 419 $ 408 $ 414 Operating expenses: Research and development 124 134 130 Selling, general and administrative 100 78 98 Restructuring charges — — 1 Total operating expenses $ 224 $ 212 $ 229 Operating profit $ 195 $ 196 $ 185 Finance income (expense), net 18 17 15 Other income (expense) 8 8 (5) Income tax (expense) benefit 28 7 (17) Net income $ 249 $ 228 $ 178 Attributable to: Shareholders of GlobalFoundries 248 228 177 Non-controlling interests 1 — 1 EPS: Basic $ 0.45 $ 0.41 $ 0.32 Diluted $ 0.44 $ 0.41 $ 0.32 Shares used in EPS calculation: Basic 555 555 552 Diluted 559 557 555 (Unaudited, in millions, except per share amounts) 23
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Statements of Financial Position (Unaudited, in millions) As of September 30, 2025 December 31, 2024 Assets: Cash and cash equivalents $ 2,016 $ 2,192 Marketable securities 1,268 1,194 Receivables, prepayments and other 1,397 1,406 Inventories 1,645 1,624 Current assets 6,326 6,416 Property, plant, and equipment, net 7,331 7,762 Marketable securities 880 839 Right-of-use assets 490 498 Other assets 1,681 1,284 Non-current assets 10,382 10,383 Total assets $ 16,708 $ 16,799 Liabilities and equity: Current portion of long-term debt $ 62 $ 753 Other current liabilities 2,025 2,291 Current liabilities 2,087 3,044 Noncurrent portion of long-term debt 1,109 1,053 Noncurrent portion of lease obligations 421 424 Other liabilities 1,325 1,454 Non-current liabilities 2,855 2,931 Total liabilities 4,942 5,975 Shareholders’ equity: Common stock / additional paid-in capital $ 24,180 $ 24,025 Accumulated deficit (12,580) (13,266) Accumulated other comprehensive income 112 17 Non-controlling interests 54 48 Total liabilities and equity $ 16,708 $ 16,799 24
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Statement of Cash Flows (Unaudited, in millions) Three Months Ended September 30, 2025 September 30, 2024 Operating Activities: Net income $ 249 $ 178 Depreciation and amortization 314 396 Finance (income) expense, net and other 12 12 Deferred income taxes (6) 37 Net change in working capital 16 (263) Other non-cash operating activities 10 15 Net cash provided by operating activities $ 595 $ 375 Investing Activities: Purchases of property, plant and equipment and intangible assets $ (189) $ (162) Acquisitions, net of cash acquired (212) (69) Net purchases of marketable securities (16) (62) Other investing activities 88 30 Net cash used in investing activities $ (329) $ (263) Financing Activities: Proceeds from issuance of equity instruments, net of taxes paid $ (20) $ — Proceeds (repayment) of debt, net (20) (10) Other financing activities — (2) Net cash used in financing activities $ (40) $ (12) Effect of exchange rate changes — 2 Net change in cash and cash equivalents $ 226 $ 102 Cash and cash equivalents at the beginning of the period 1,790 2,184 Cash and cash equivalents at the end of the period $ 2,016 $ 2,286 25
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(Unaudited, in millions, except per share amounts) IFRS to Non-IFRS Reconciliations (1) See "Financial Measures (Non-IFRS)" for further discussion on these Non-IFRS measures and why we believe they are useful. (2) Structural optimization represents costs associated with employee workforce reductions, manufacturing footprint alignment and liquidation charges. (3) Comprised of net deferred tax asset recognition and foreign exchange rate impact. Three Months Ended September 30, 2025 Gross profit Selling, general & administrative Research & development Operating profit Other income (expense) Income tax (expense) benefit Net income Diluted EPS As Reported $ 419 $ 100 $ 124 $ 195 $ 8 $ 28 $ 249 $ 0.44 IFRS margins (1) 24.8% 11.6% 14.8% Share-based compensation 15 (28) (12) 55 — (2) 53 0.09 Structural optimization(2) 5 (1) — 6 — (2) 4 0.01 Amortization of acquired intangibles and other acquisition related charges — (3) (1) 4 (1) — 3 0.01 Revaluation of equity investments — — — — (7) — (7) (0.01) Tax matters(3) — — — — — (70) (70) (0.13) Non-IFRS measures(1) $ 439 $ 68 $ 111 $ 260 $ — $ (46) $ 232 $ 0.41 Non-IFRS margin (1) 26.0% 15.4% 13.7% 26
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(1) See "Financial Measures (Non-IFRS)" for further discussion on these Non-IFRS measures and why we believe they are useful. (2) Structural optimization represents costs associated with employee workforce reductions, manufacturing footprint alignment and liquidation charges. (3) Comprised of net deferred tax asset recognition and foreign exchange rate impact. Three Months Ended June 30, 2025 Gross profit Selling, general & administrative Research & development Operating profit Other income (expense) Income tax (expense) benefit Net income Diluted EPS As Reported $ 408 $ 78 $ 134 $ 196 $ 8 $ 7 $ 228 $ 0.41 IFRS margins (1) 24.2% 11.6% 13.5% Share-based compensation 17 (29) (8) 54 — (2) 52 0.09 Structural optimization (2) — (5) — 5 (24) — (19) (0.03) Amortization of acquired intangibles and other acquisition related charges — (2) (1) 3 — — 3 0.01 Litigation matters — — — — 9 (1) 8 0.01 Tax matters(3) — — — — — (38) (38) (0.07) Non-IFRS measures (1) $ 425 $ 42 $ 125 $ 258 $ (7) $ (34) $ 234 $ 0.42 Non-IFRS margin (1) 25.2% 15.3% 13.9% (Unaudited, in millions, except per share amounts) IFRS to Non-IFRS Reconciliations 27
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(1) See "Financial Measures (Non-IFRS)" for further discussion on these Non-IFRS measures and why we believe they are useful. Three months ended September 30, 2024 Gross profit Selling, general & administrative Research & development Operating profit Other income (expense) Income tax (expense) benefit Net income Diluted EPS As Reported $ 414 $ 98 $ 130 $ 185 $ (5) $ (17) $ 178 $ 0.32 IFRS margins (1) 23.8% 10.6% 10.2% Share-based compensation 15 (27) (8) 50 — — 50 0.09 Restructuring charges — — — 1 — — 1 — Non-IFRS Measures (1) $ 429 $ 71 $ 122 $ 236 $ (5) $ (17) $ 229 $ 0.41 Non-IFRS margin (1) 24.7% 13.6% 13.2% (Unaudited, in millions, except per share amounts) IFRS to Non-IFRS Reconciliations 28
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Three Months Ended September 30, 2025 June 30, 2025 September 30, 2024 Net cash provided by operating activities $ 595 $ 431 $ 375 Less: Purchases of property, plant and equipment and intangible assets (189) (159) (162) Add: Proceeds from government grants 45 5 3 Total capital expenditures net of proceeds from government grants $ (144) $ (154) $ (159) Non-IFRS adjusted free cash flow(1) $ 451 $ 277 $ 216 Non-IFRS adjusted free cash flow margin(1) 27 % 16 % 12 % (1) See "Financial Measures (Non-IFRS)" for further discussion on these Non-IFRS measures and why we believe they are useful. (Unaudited, in millions) 29 IFRS to Non-IFRS Reconciliation Non-IFRS Adjusted Free Cash Flow (1) a
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IFRS to Non-IFRS Reconciliation Non-IFRS Adjusted EBITDA(1) (1) See "Financial Measures (Non-IFRS)" for further discussion on this Non-IFRS measure and why we believe it is useful. Three Months Ended September 30, 2025 June 30, 2025 September 30, 2024 Net revenue $ 1,688 $ 1,688 $ 1,739 Net income 249 228 178 Net income margin 14.8 % 13.5 % 10.2 % Depreciation and amortization 314 335 396 Finance expense 23 22 37 Finance income (41) (39) (52) Income tax expense (benefit) (28) (7) 17 Share-based compensation 55 54 50 Restructuring charges — — 1 Structural optimization 6 (19) — Revaluation of equity investments (7) — — Litigation claims — 9 — Other acquisition related charges 2 2 — Non-IFRS adjusted EBITDA(1) $ 573 $ 585 $ 627 Non-IFRS adjusted EBITDA margin(1) 33.9 % 34.7 % 36.1 % (Unaudited, in millions) 30
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In addition to the financial information presented in accordance with International Financial Reporting Standards ("IFRS"), this press release includes the following Non-IFRS financial measures: Non-IFRS gross profit, Non-IFRS operating profit, Non-IFRS operating expense, Non-IFRS net income, Non-IFRS selling, general and administrative, Non-IFRS research and development, Non-IFRS other income (expense), Non-IFRS income tax benefit (expense), Non-IFRS diluted earnings per share (“EPS”), Non-IFRS adjusted EBITDA, Non-IFRS adjusted free cash flow and any related margins. We define each of Non-IFRS gross profit, Non-IFRS selling, general and administrative, Non-IFRS research and development, Non-IFRS operating profit, Non-IFRS other income (expense), Non-IFRS income tax benefit (expense) and Non-IFRS net income as gross profit, selling, general and administrative, research and development, operating profit, other income (expense), income tax benefit (expense), and net income, respectively, adjusted for share-based compensation, structural optimizatio n, amortization of acquired intangibles and other acquisition related charges, impairment of long-lived assets, litigation charges, revaluation of equity investments, restructuring charges, tax matters, and any associated income tax effects. We define Non-IFRS operating expense as Non-IFRS gross profit minus Non-IFRS operating profit. We define Non-IFRS diluted EPS as Non-IFRS net income divided by the diluted shares outstanding. We define Non-IFRS adjusted free cash flow as cash flow provided by (used in) operating activities less purchases of property, plant and equipment and intangible assets plus proceeds from government grants related to capital expenditures. We define Non-IFRS adjusted EBITDA as net income adjusted for the impact of finance expense, finance income, income tax expense (benefit), depreciation and amortization, share-based compensation, restructuring charges, impairment of long-lived assets, revaluation of equity investments, structural optimization, litigation claims and acquisition related charges. We define each of Non-IFRS gross margin, Non-IFRS operating margin, Non-IFRS net income margin, Non-IFRS adjusted free cash flow margin and Non-IFRS adjusted EBITDA margin as Non-IFRS gross profit, Non-IFRS operating profit, Non-IFRS net income, Non-IFRS adjusted free cash flow and Non-IFRS adjusted EBITDA, respectively, divided by net revenue. Any adjustments described above that are zero for a given period are excluded from the “Reconciliation of IFRS to Non-IFRS” table. See "Reconciliation of IFRS to Non-IFRS" section for a detailed reconciliation of Non-IFRS financial measures to the most directly comparable IFRS measure. Financial Measures (Non-IFRS) We believe that in addition to our results determined in accordance with IFRS, these Non- IFRS financial measures provide useful information to both management and investors in measuring our financial performance and highlight trends in our business that may not otherwise be apparent when relying solely on IFRS measures. These Non-IFRS financial measures provide supplemental information regarding our operating performance that excludes certain gains, losses and non-cash charges that occur relatively infrequently and/ or that we consider to be unrelated to our core operations. Management believes that Non- IFRS adjusted free cash flow as a Non-IFRS measure is helpful to investors as it provides insights into the nature and amount of cash the Company generates in the period. Non-IFRS financial information is presented for supplemental informational purposes only and should not be considered in isolation or as a substitute for financial information presented in accordance with IFRS. Our presentation of Non-IFRS measures should not be construed as an inference that our future results will be unaffected by unusual or nonrecurring items. Other companies in our industry may calculate these measures differently, which may limit their usefulness as comparative measures. 31
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The information contained herein is the property of GlobalFoundries and/or its licensors. This document is for informational purposes only, is current only as of the date of publication and is subject to change by GlobalFoundries at any time without notice. GlobalFoundries, the GlobalFoundries logo and combinations thereof are trademarks of GlobalFoundries Inc. in the United States and/or other jurisdictions. Other product or service names are for identification only and may be trademarks or service marks of their respective owners. © GlobalFoundries Inc. 2025. Unless otherwise indicated, all rights reserved. Do not copy or redistribute except as expressly permitted by GlobalFoundries. Thank You For further information, please contact: Investor Relations ir@gf.com