Slides
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1 Fourth Quarter and Full-Year 2025 Financial Results (unaudited) February 11, 2026
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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, s uch as the imposition of trade controls, tariffs and counter-tariffs between the United States and its trade partners and new legislation, 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 we may fail to achieve the expected results or operations from funding received (including awards under the U.S. CHIPS and Science Act and New York State Green CHIPS) and our expected results and planned or further expansions and operations may not proceed as planned if funding we expect to receive 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 charges, 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 charges, 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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$1.83B Flat 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. Fourth Quarter 2025 Results Non-IFRS Gross Margin (1) 29.0% ↑ 360bps Y/Y Non-IFRS Earnings per Share(1) $0.55 ↑ 20% Y/Y Revenue
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5 Q4 2025 results at or above the high end of non-IFRS(1) guidance ranges ~14% Non-IFRS adjusted free cash flow margin(1) in the quarter Fifth consecutive quarter of double digit % year-over-year revenue growth in CI&D GF's Board of Directors approved a share repurchase authorization of up to $500 million Key Fourth Quarter 2025 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. Quarterly Results Cash Generation End Market Highlight Shareholder Return
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$6.79B ↑ 1% Y/Y 6 (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. Full-Year 2025 Results Non-IFRS Gross Margin (1) 26.1% ↑ 80bps Y/Y Non-IFRS Earnings per Share(1) $1.72 ↑ 10% Y/Y Revenue
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7 Auto and CI&D comprised a record ~1/3 of total revenue in 2025, up from ~27% in 2024 Won a record 500+ designs across the broadest customers and applications in our history ~Doubled 2025 silicon photonics revenue to over $200M; expect to nearly double again in 2026 Additional $3B of design wins in 2025 as a result of GF's diversified manufacturing footprint Key Full-Year 2025 Highlights » » » » Mix Shift Evolution Deeper Partnerships Silicon Photonics Global Footprint
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Key Announcements
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9 GF to Acquire Synopsys’ Processor IP Solutions Enabling AI in the Physical World ARC-Classic Proven IP broadly deployed in key markets ARC-DSP Application-specific for IoT, vision, radar/LiDAR ARC-AI Optimized for AI use cases ARC-V Newest solutions built around RISC-V ISA ASIP Designer Tools for customers developing their own processors Expanding our portfolio *Subject to the satisfaction of customary closing conditions, including the receipt of required regulatory approvals, and is expected to be completed in the second half of calendar year 2026. Transportation Industrial Consumer Medical Autonomous Vehicles Industrial Robots Humanoid Robots Diagnostic Wearables ex.
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10 Accelerating Physical AI for Our Customers *Subject to the satisfaction of customary closing conditions, including the receipt of required regulatory approvals, and is expected to be completed in the second half of calendar year 2026. Enabling customers to drive Physical AI innovation with tailored technology offerings Accelerated time-to-market with a complete portfolio Expanded customer reach and market access Enhanced compute across critical end markets Speed Ecosystem Expertise Processor IP Business
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11 GF and Navitas will deliver advanced solutions for critical applications that demand the highest efficiency and power density, including AI data centers, performance computing, energy and grid infrastructure and industrial electrification. Enable customers to achieve a U.S. pathway for GaN, supporting national security and competitiveness Expected Outcomes: GaN Technology for Critical Power Applications Manufacture at GF’s Burlington, Vermont facility, leveraging the site’s expertise in high-voltage GaN-on- Silicon technology Next-gen GaN solutions in development, featuring higher levels of integration and supporting a broader set of mid and low voltage applications
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12 Advancing GF Photonics with InfiniLink Acquisition A Silicon Photonics system design company with expertise in designing complete PIC and EIC solutions, the fundamental building blocks of all optical to electrical solutions across pluggable and CPO form factors. Engineering talent and IP enhance GF capabilities Faster innovation cycles with integrated design Delivery of integrated solutions including advanced packaging and test Differentiated IP Design Enablement System Support
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End Markets
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Continued focus on differentiated applications with wins across camera controllers, RF front-end, and power management. More than tripled smart sensors and networking revenue in 2025, driven by robust ramps in next-gen ADAS. Deepened collaboration with a leading MCU supplier for next-gen AI enabled MCUs in various physical AI applications. Nearly doubled silicon photonics revenue to over $200 million in 2025, and expect to nearly double again in 2026. Smart Mobile Devices » Automotive » Home and Industrial IoT » Communications Infrastructure and Data Center » 14 End Market Commentary 9 Com
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Q4'25 Key Design Wins Platform Application CBIC Low noise amplifier 22UX Next-gen imaging FinFET Camera controller Q4'25 Revenue $657M ↓ (11)% Y/Y 15 Smart Mobile Devices End Market Commentary Secured a key design win on our UX platform for next-gen imaging in mobile phones and action cameras, with an estimated lifetime revenue of over $500 million.
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Q4'25 Revenue $427M ↑ 3% Y/Y 16 Automotive Q4'25 Key Design Wins Platform Application ESF3 Microcontroller BCD Audio amplifier FinFET Smart camera sensor End Market Commentary In 2025, we secured over 50% more design wins in Automotive compared to the year prior, which builds upon years of increasing design win momentum.
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Q4'25 Revenue $303M ↓ (15)% Y/Y 17 Q4'25 Key Design Wins Platform Application FDX Next-gen AI enabled MCUs RF Secure communications FinFET Next-gen WiFi 8 End Market Commentary In Aerospace and Defense, we secured new design wins across secure connectivity and RF applications that will begin ramping in our Malta, NY fab. Home and Industrial IoT
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Q4'25 Revenue $225M ↑ 32% Y/Y 18 Communications Infrastructure and Data Center Q4'25 Key Design Wins Platform Application 9SW Low noise amplifier + switch CLO Co-packaged optics GaN Data center power delivery End Market Commentary Photonic IC design wins at both endpoints of the scale-up network, marking an important step in the industry’s rollout of CPO.
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(Unaudited, in millions USD) Year-over-year Sequential Q4'25 Q3'25 Q4'24 Q4'25 vs Q4'24 Q4'25 vs Q3'25 Smart Mobile Devices $ 657 $ 752 $ 738 $ (81) (11)% $ (95) (13)% Communications Infrastructure and Data Center $ 225 $ 175 $ 170 $ 55 32% $ 50 29% Home and Industrial IoT $ 303 $ 258 $ 355 $ (52) (15)% $ 44 17% Automotive $ 427 $ 306 $ 414 $ 13 3% $ 121 40% Non-Wafer Revenue $ 218 $ 197 $ 153 $ 65 42% $ 21 11% Revenue $ 1,830 $ 1,688 $ 1,830 $ — —% $ 142 8% 19 Q4'25 Revenue by End Market ((Unaudited, in millions)
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(Unaudited, in millions USD) Year-over-year 2025 2024 2025 vs 2024 Smart Mobile Devices $ 2,678 $ 3,048 $ (370) (12)% Communications Infrastructure and Data Center $ 745 $ 577 $ 168 29% Home and Industrial IoT $ 1,189 $ 1,267 $ (78) (6)% Automotive $ 1,410 $ 1,206 $ 204 17% Non-Wafer Revenue $ 769 $ 652 $ 117 18% Revenue $ 6,791 $ 6,750 $ 41 1% 20 Full-Year Revenue by End Market ((Unaudited, in millions)
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Q4'25 Revenue Mix by End Market 9(Unaudited) 40% 9%19% 23% 8% 36% 12%17% 23% 12% Q4'24(1)Q4'25 Smart Mobile Devices Communications Infrastructure and Data Center Home and Industrial IoT Automotive Non-Wafer & Corporate Other 21 (1) Totals may not sum to 100% due to rounding.
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Full-Year Revenue Mix by End Market 9(Unaudited) 45% 9% 19% 18% 10% 39% 11%18% 21% 11% 2024(1)2025 Smart Mobile Devices Communications Infrastructure and Data Center Home and Industrial IoT Automotive Non-Wafer & Corporate Other 22 (1) Totals may not sum to 100% due to rounding.
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Capex and Cash Flow ▪ 2025 Non-IFRS Adjusted Free Cash Flow was a new record and above target set out at the start of the year. ▪ Driven by the multi-year investments made in our diversified capacity footprint, as well as our continuous drive to improve productivity and reduce cost. Full Year 2025 Cash flow from operations $1,731M Capital expenditures $722M (11% of Revenue) Capital expenditures net of government grants $574M (8% of Revenue) Non-IFRS Adjusted FCF(1) $1,157M (17% of Revenue) Cash, cash equivalent and marketable securities $4.0B at the end of Q4’25 (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. 23
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24 Outlook
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Q1’26 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 IFRS and Non-IFRS diluted EPS is net interest income (expense) and other income (expense) which we estimate will be between $2 million and $10 million for the first quarter 2026. Also included in IFRS and Non-IFRS diluted EPS is income tax expense which we estimate will be between $17 million and $35 million for the first quarter 2026. IFRS Share-Based Compensation(3) Non-IFRS(2) Net Revenue $1,625 ± $25 Gross Margin(2) 26.0% ± 100bps ~100bps 27.0% ± 100bps Operating Expenses(2) $272 ± $10 ~$47 $225 ± $10 Operating Margin(2) 9.3% ± 190bps ~390bps 13.2% ± 180bps Diluted EPS(2)(4) $0.23 ± $0.05 ~$0.12 $0.35 ± $0.05 Fully Diluted Share Count ~560 25
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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 Q4'25 Q3'25 Q4'24 Q4'25 vs Q4'24 Q4'25 vs Q3'25 Net revenue $ 1,830 $ 1,688 $ 1,830 $ — —% $ 142 8 % Gross profit $ 508 $ 419 $ 449 $ 59 13 % $ 89 21 % Gross margin 27.8% 24.8% 24.5% +330bps +300bps Non-IFRS gross profit(1) $ 530 $ 439 $ 464 $ 66 14 % $ 91 21 % Non-IFRS gross margin(1) 29.0% 26.0% 25.4% +360bps +300bps Operating profit (loss) $ 255 $ 195 $ (701) $ 956 136% $ 60 31 % Operating margin 13.9% 11.6% (38.3%) +5,220bps +230bps Non-IFRS operating profit(1) $ 335 $ 260 $ 285 $ 50 18% $ 75 29 % Non-IFRS operating margin(1) 18.3% 15.4% 15.6% +270bps +290bps Net income (loss) $ 200 $ 249 $ (729) $ 929 127% $ (49) (20) % Net income (loss) margin 10.9% 14.8% (39.8%) +5,070bps (390)bps Non-IFRS net income(1) $ 310 $ 232 $ 256 $ 54 21% $ 78 34 % Non-IFRS net income margin(1) 16.9% 13.7% 14.0% +290bps +320bps Diluted earnings (loss) per share ("EPS") $ 0.36 $ 0.44 $ (1.32) $ 1.68 127 % $ (0.08) (18) % Non-IFRS diluted EPS(1) $ 0.55 $ 0.41 $ 0.46 $ 0.09 20% $ 0.14 34 % Non-IFRS adjusted EBITDA(1) $ 641 $ 573 $ 661 $ (20) (3) % $ 68 12 % Non-IFRS adjusted EBITDA margin(1) 35.0% 33.9% 36.1% (110)bps +110bps Cash from operations $ 374 $ 595 $ 457 $ (83) (18) % $ (221) (37) % Wafer shipments (300MM Equivalent) (in thousands) 619 602 595 24 4 % 17 3 % 27 Q4'25 Financial Summary
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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 2025 2024 2025 vs 2024 Net revenue $ 6,791 $ 6,750 $ 41 1% Gross profit $ 1,690 $ 1,651 $ 39 2 % Gross margin 24.9% 24.5% +40bps Non-IFRS gross profit(1) $ 1,773 $ 1,709 $ 64 4 % Non-IFRS gross margin(1) 26.1% 25.3% +80bps Operating profit (loss) $ 797 $ (214) $ 1,011 472% Operating margin 11.7% (3.2%) +1,490bps Non-IFRS operating profit(1) $ 1,066 $ 920 $ 146 16% Non-IFRS operating margin(1) 15.7% 13.6% +210bps Net income (loss) $ 888 $ (262) $ 1,150 439% Net income (loss )margin 13.1% (3.9%) +1,700bps Non-IFRS net income(1) $ 965 $ 870 $ 95 11% Non-IFRS net income margin(1) 14.2% 12.9% +130bps Diluted earnings (loss) per share ("EPS") $ 1.59 $ (0.48) $ 2.07 431% Non-IFRS diluted EPS(1) $ 1.72 $ 1.56 $ 0.16 10% Non-IFRS adjusted EBITDA(1) $ 2,357 $ 2,475 $ (118) (5) % Non-IFRS adjusted EBITDA margin(1) 34.7% 36.7% (200)bps Cash from operations $ 1,731 $ 1,722 $ 9 1 % Wafer shipments (300MM Equivalent) (in thousands) 2,345 2,124 221 10 % 28 Full-Year 2025 Financial Summary
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Statement of Operations Three Months Ended Year Ended December 31, 2025 September 30, 2025 December 31, 2024 2025 2024 Net revenue $ 1,830 $ 1,688 $ 1,830 $ 6,791 $ 6,750 Cost of revenue 1,322 1,269 1,381 5,101 5,099 Gross profit $ 508 $ 419 $ 449 $ 1,690 $ 1,651 Operating expenses: Research and development 133 124 121 518 496 Selling, general and administrative 120 100 93 375 427 Restructuring charges — — 1 — 7 Impairment charges — — 935 — 935 Operating expenses $ 253 $ 224 $ 1,150 $ 893 $ 1,865 Operating profit (loss) $ 255 $ 195 $ (701) $ 797 $ (214) Finance income (expense), net 17 18 15 66 56 Other income (expense), net 2 8 (1) 48 (12) Income tax expense (74) 28 (42) (23) (92) Net income (loss) $ 200 $ 249 $ (729) $ 888 $ (262) Attributable to: Shareholders of GlobalFoundries 199 248 (730) 885 (265) Non-controlling interests 1 1 1 3 3 EPS: Basic $ 0.36 $ 0.45 $ (1.32) $ 1.59 $ (0.48) Diluted $ 0.36 $ 0.44 $ (1.32) $ 1.59 $ (0.48) Shares used in EPS calculation: Basic 556 555 553 555 553 Diluted 560 559 553 558 553 (Unaudited, in millions, except per share amounts) 29
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Statements of Financial Position (Unaudited, in millions) As of December 31, 2025 December 31, 2024 Assets: Cash and cash equivalents $ 1,809 $ 2,192 Marketable securities 1,241 1,194 Receivables, prepayments and other 1,578 1,406 Inventories 1,577 1,624 Current assets 6,205 6,416 Property, plant, and equipment, net 7,223 7,762 Goodwill and intangible assets, net 1,368 660 Marketable securities 939 839 Right-of-use assets 569 498 Other assets 837 624 Non-current assets 10,936 10,383 Total assets $ 17,141 $ 16,799 Liabilities and equity: Current portion of long-term debt $ 86 $ 753 Other current liabilities 2,282 2,291 Current liabilities 2,368 3,044 Non-current portion of long-term debt 1,065 1,053 Non-current portion of lease obligations 487 424 Other liabilities 1,238 1,454 Non-current liabilities 2,790 2,931 Total liabilities 5,158 5,975 Shareholders’ equity: Common stock / additional paid-in capital $ 24,231 $ 24,025 Accumulated deficit (12,381) (13,266) Accumulated other comprehensive income 78 17 Non-controlling interests 55 48 Total liabilities and equity $ 17,141 $ 16,799 30
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Statement of Cash Flows (Unaudited, in millions) Three Months Ended Year Ended December 31, 2025 December 31, 2024 2025 2024 Operating Activities: Net income (loss) $ 200 $ (729) $ 888 $ (262) Depreciation and amortization 313 378 1,314 1,568 Finance (income) expense, net and other (10) (28) 3 (38) Deferred income taxes 117 6 27 72 Impairment of long lived assets — 935 — 935 Net change in working capital (274) (91) (538) 66 Other non-cash operating activities 28 (14) 37 (619) Net cash provided by operating activities $ 374 $ 457 $ 1,731 $ 1,722 Investing Activities: Purchases of property, plant and equipment and intangible assets $ (208) $ (135) $ (722) $ (625) Acquisitions, net of cash acquired (451) — (682) (69) Proceeds from government grants 98 6 148 10 Proceeds from sale of property, plant and equipment and intangible assets 57 24 170 56 Net purchases of marketable securities (28) 14 (128) (496) Other investing activities 5 (1) (60) (1) Net cash used in investing activities $ (527) $ (92) $ (1,274) $ (1,125) Financing Activities: Proceeds from issuance of equity instruments, net of taxes paid $ (2) $ — $ (5) $ 21 Purchases of treasury stock — — — (200) Proceeds (repayment) of debt, net (51) (452) (840) (606) Net cash used in financing activities $ (53) $ (452) $ (845) $ (785) Effect of exchange rate changes (1) (7) 5 (7) Net change in cash and cash equivalents $ (207) $ (94) $ (383) $ (195) Cash and cash equivalents at the beginning of the period 2,016 2,286 2,192 2,387 Cash and cash equivalents at the end of the period $ 1,809 $ 2,192 $ 1,809 $ 2,192 31
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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 non-cash deferred tax asset recognition and foreign exchange rate impact. Three Months Ended December 31, 2025 Gross profit Selling, general & administrative Research & development Operating profit Other income (expense) Income tax (expense) benefit Net income Diluted EPS As Reported $ 508 $ 120 $ 133 $ 255 $ 2 $ (74) $ 200 $ 0.36 IFRS margins (1) 27.8% 13.9% 10.9% Share-based compensation 16 (25) (15) 56 — (1) 55 0.10 Structural optimization(2) 4 (2) (1) 7 — 1 8 0.01 Amortization of acquired intangibles and other acquisition related charges 2 (13) (2) 17 1 (2) 16 0.03 Revaluation of equity investments — — — — (4) — (4) (0.01) Tax matters(3) — — — — — 35 35 0.06 Non-IFRS measures(1) $ 530 $ 80 $ 115 $ 335 $ (1) $ (41) $ 310 $ 0.55 Non-IFRS margins (1) 29.0% 18.3% 16.9% 32
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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 non-cash 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 margins (1) 26.0% 15.4% 13.7% (Unaudited, in millions, except per share amounts) IFRS to Non-IFRS Reconciliations 33
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Three months ended December 31, 2024 Gross profit Selling, general & administrative Research & development Operating profit Other income (expense) Income tax (expense) benefit Net income (loss) Diluted EPS As Reported $ 449 $ 93 $ 121 $ (701) $ (1) $ (42) $ (729) $ (1.32) IFRS margins (1) 24.5% (38.3%) (39.8%) Share-based compensation 15 (22) (8) 45 — — 45 0.09 Structural optimization(2) — (2) (1) 3 — — 3 0.01 Amortization of acquired intangibles and other acquisition related charges — — (2) 2 — — 2 — Impairment charges — — — 935 — — 935 1.68 Restructuring charges — — — 1 — — 1 — Income tax effect(3) — — — — — (1) (1) — Non-IFRS Measures (1) $ 464 $ 69 $ 110 $ 285 $ (1) $ (43) $ 256 $ 0.46 Non-IFRS margins (1) 25.4% 15.6% 14.0% (Unaudited, in millions, except per share amounts) IFRS to Non-IFRS Reconciliations 34 (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) Relates to restructuring charges, structural optimization and amortization of acquired intangibles and other acquisition related charges.
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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 non-cash deferred tax asset recognition and foreign exchange rate impact. (4) Relates to restructuring charges, structural optimization and amortization of acquired intangibles and other acquisition related charges. 2025 Year Ended Gross profit Selling, general & administrative Research & development Operating profit Other income (expense) Income tax (expense) benefit Net income Diluted EPS As Reported $ 1,690 $ 375 $ 518 $ 797 $ 48 $ (23) $ 888 $ 1.59 IFRS margins (1) 24.9% 11.7% 13.1% Share-based compensation 61 (102) (42) 205 — (7) 198 0.35 Structural optimization(2) 20 (13) (6) 39 (24) (4) 11 0.02 Amortization of acquired intangibles and other acquisition related charges 2 (18) (5) 25 (31) 4 (2) — Revaluation of equity investments — — — — (17) — (17) (0.03) Litigation claims — — — — 9 (1) 8 0.01 Tax matters(3) — — — — (121) (121) (0.22) Non-IFRS measures(1) $ 1,773 $ 242 $ 465 $ 1,066 $ (15) $ (152) $ 965 $ 1.72 Non-IFRS margins (1) 26.1% 15.7% 14.2% 35
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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) Relates to restructuring charges, structural optimization and amortization of acquired intangibles and other acquisition related charges. 2024 Year Ended Gross profit Selling, general & administrative Research & development Operating profit Other income (expense) Income tax (expense) benefit Net income Diluted EPS As Reported $ 1,651 $ 427 $ 496 $ (214) $ (12) $ (92) $ (262) $ (0.48) IFRS margins (1) 24.5% (3.2%) (3.9%) Share-based compensation 58 (98) (31) 187 — — 187 0.34 Structural optimization(2) — (2) (1) 3 — — 3 0.01 Amortization of acquired intangibles and other acquisition related charges — — (2) 2 — — 2 — Impairment charges — — — 935 — — 935 1.68 Restructuring Charges — — — 7 — — 7 0.01 Tax effect(3) — — — — — (2) (2) — Non-IFRS measures(1) $ 1,709 $ 327 $ 462 $ 920 $ (12) $ (94) $ 870 $ 1.56 Non-IFRS margins (1) 25.3% 13.6% 12.9% 36
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Three Months Ended Year Ended December 31, 2025 September 30, 2025 December 31, 2024 2025 2024 Net cash provided by operating activities $ 374 $ 595 $ 457 $ 1,731 $ 1,722 Less: Purchases of property, plant and equipment and intangible assets (208) (189) (135) (722) (625) Add: Proceeds from government grants 98 45 6 148 10 Total capital expenditures net of proceeds from government grants(1) $ (110) $ (144) $ (129) $ (574) $ (615) Non-IFRS adjusted free cash flow(1) $ 264 $ 451 $ 328 $ 1,157 $ 1,107 Non-IFRS adjusted free cash flow margin(1) 14 % 27 % 18 % 17 % 16 % (1) See "Financial Measures (Non-IFRS)" for further discussion on these Non-IFRS measures and why we believe they are useful. (Unaudited, in millions) 37 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 Year Ended December 31, 2025 September 30, 2025 December 31, 2024 2025 2024 Net revenue $ 1,830 $ 1,688 $ 1,830 $ 6,791 $ 6,750 Net income (loss) 200 249 (729) 888 (262) Net income (loss) margin 10.9 % 14.8 % (39.8) % 13.1 % (3.9) % Depreciation and amortization 313 314 378 1,314 1,568 Finance expense 23 23 34 93 145 Finance income (40) (41) (49) (159) (201) Income tax expense (benefit) 74 (28) 42 23 92 Share-based compensation 56 55 45 205 187 Restructuring charges — — 1 — 7 Impairment charges — — 935 — 935 Structural optimization 7 6 3 15 3 Revaluation of equity investments (4) (7) — (17) — Litigation claims — — — 9 — Other acquisition related charges 12 2 1 (14) 1 Non-IFRS adjusted EBITDA(1) $ 641 $ 573 $ 661 $ 2,357 $ 2,475 Non-IFRS adjusted EBITDA margin(1) 35.0 % 33.9 % 36.1 % 34.7 % 36.7 % (Unaudited, in millions) 38
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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 optimization, amortization of acquired intangibles and other acquisition related charges, impairment charges, 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 charges, 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. 39
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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