Slides
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1 Third Quarter 2026 Financial Results (unaudited) November 4, 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 the Middle East and Ukraine; 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, 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 strategic optimization efforts; 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 anticipated results or benefits from government grants 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 2025 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 presentation 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, Non-IFRS total capital expenditures net of proceeds from government grants 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 (loss) , respectively, adjusted for share-based compensation, structural optimization, amortization of acquired intangibles and other acquisition related charges, impairment charges, litigation claims , 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 total capital expenditures net of proceeds from government grants as purchases of property, plant and equipment and intangible assets less proceeds from government grants. 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, shares issued to the Department of Commerce, 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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$1.90B ↑ 13% 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 2026 Results Non-IFRS Gross Margin (1) 31.4% ↑ 540bps Y/Y Non-IFRS Earnings per Share(1) $0.53 ↑ 29% Y/Y Revenue
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5 Revenue and non- IFRS(1) profitability metrics exceeded the midpoints of our guidance ranges Record non-IFRS gross margin(1),which grew over 500bps Y/Y, reflecting continued structural mix shift Record 81% year- over-year revenue growth in CI&D, driven by optical networking demand Completed $100M of share repurchases in the quarter and paid a $0.12 per share dividend on October 9 Key Third Quarter 2026 Highlights » » » » Quarterly Results Margin Expansion End Market Highlight Shareholder Return (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.
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Key Announcements
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7 GF Supporting Significant Growth in U.S. Capacity Phase 1 construction underway Strong economies of scale Existing infrastructure Experienced, broad talent base Strong state & county support U.S. DoD Trusted Foundry *300mm-equivalent basis at full run rate. Approximately ~900k wafers of annual capacity expected for each Phase. Phase 2 fab is subject to approval. Advantages of GF’s Malta Site Customers Suppliers Phase 1 + 2 up to ~1.8M wafers/yr* Special Purpose Vehicle (SPV) Builds and operates the fab Provides technology – incl. FDX, UX and BCD Manages operating expenses, incl. labor, utilities, materials etc. Funds and owns fab infrastructure & tooling & operating expenses Technology, construction & operating management, fees + EBITDA sharing + shared services reimbursement Wafer revenue Key Contracts Owned by the U.S. and Japanese governments SPV Infra & Tools Employees Up to $21bn for Phase 1 & 2 Funded under the U.S.-Japan Trade Deal 1,000+ high-skilled mfg. jobs & ~27,000 construction & ecosystem jobs
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8 GF announced a multi-year, $2 billion manufacturing agreement with TSMC to establish a U.S.-based supply of silicon interposers for TSMC's CoWoS advanced packaging ecosystem, adding fabrication capacity at its Malta, New York facility. Expected Outcomes: GF & TSMC to Partner on First U.S. AI Interposers “By providing manufacturing service using GF’s trusted U.S. manufacturing footprint, we are creating a secure, scalable source of essential advanced-packaging elements that will help customers accelerate innovation and strengthen the semiconductor supply chain.” Ed Kaste, SVP of CMOS Business at GF Support packaging technologies, including embedded deep trench capacitor components Provide greater scale and flexibility across multiple product generations for AI and HPC Ramp volume production in 1H 2028, with a five-year initial term and framework for future expansion
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9 GF and Marvell announced an expanded multi-year agreement to increase capacity for GF's silicon germanium (SiGe) technology at its Burlington, Vermont facility to support growing demand for next- generation optical connectivity. Expected Outcomes: Expanding Optical Connectivity with Marvell “AI is fundamentally changing the way data centers are built, and connectivity is becoming increasingly critical to unlocking the performance of these systems. … Our expanded collaboration with GF will help ensure we have the SiGe technology and manufacturing capacity to support the significant growth we see ahead.” Robb Johnson, VP, Foundry Technology at Marvell Add significant SiGe capacity for pluggable transceivers, NPO and CPO Build on more than a decade of collaboration to support growing requirements Support 200G per lane today, with a roadmap to higher speed generations
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10 GF and Monolithic Power Systems announced a long-term manufacturing agreement that will deploy MPS' proprietary process technology to GF's advanced 300mm manufacturing facility in Singapore, expanding manufacturing capacity for critical power management solutions in early 2027. Expected Outcomes: New Strategic Partnership With Monolithic Power “Integrating MPS innovation with GF’s manufacturing scale allows us to extend reach in high-growth electrification and AI markets with improved supply assurance. Together, we will deliver global scale with local support, and uncompromising power performance.” Deming Xiao, EVP of Global Operations at MPS Deliver power solutions for data center, auto, consumer & industrial markets Combine MPS' process technology with GF's manufacturing expertise to drive the next phase of growth Provide customers with greater capacity, supply assurance and global scale
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End Markets
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Delivered 49% Y/Y growth on broad-based strength across connectivity, tracking and sensing applications. Home and Industrial IoT » SMD at 32% of Q3 total revenue, the lowest proportion in history and a step forward to enhance the diversification of mix. Smart Mobile Devices » CI&D, driven by Silicon Photonics and SiGe, grew a record 81% Y/Y, the eighth consecutive quarter of double digit % growth. Automotive » Communications Infrastructure and Data Center » 12 End Market Commentary 9 Com Grew 20% Y/Y and on track for low double-digit % growth in 2026, another strong year for this end market.
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13 Communications Infrastructure and Data Center Q3'26 Revenue $316M ↑ 81% Y/Y Strengthened data center power portfolio with a design win on our 650V GaN platform and a smart power stage gate driver tape-out on BCD. End Market Commentary Secured design wins for both silicon photonics and SiGe at a new optical transceiver customer for hyperscaler demand.
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14 Automotive Q3'26 Revenue $368M ↑ 20% Y/Y Growth reflected broad-based secular momentum, and GF continues to win with customers to support the expansion of automotive semiconductor content. End Market Commentary Auto delivered strong growth, with revenue up 11% sequentially and 20% year over year, representing approximately 19% of the quarter's total revenue.
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Q3'26 Revenue $611M ↓ (19)% Y/Y 15 Smart Mobile Devices Customer engagement remains strong for GF's differentiated RF, power, audio, display and imaging capabilities for smart and connected mobile devices. End Market Commentary Secured new design wins across smartphones and smart glasses, including additional power content and a first-ever design win for fuel gauge ICs in premium tier handsets.
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16 Home and Industrial IoT Q3'26 Revenue $384M ↑ 49% Y/Y Taped out next-generation cellular IoT and Bluetooth products on our FDX platform for wireless connectivity. End Market Commentary Strong customer traction as edge AI workloads grow alongside higher performance requirements for Bluetooth, wireless, cellular and power management components.
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(Unaudited, in millions USD) Year-over-Year Sequential Q3 2026 Q2 2026 Q3 2025 Q3 2026 vs Q3 2025 Q3 2026 vs Q2 2026 Smart Mobile Devices $611 $644 $752 $(141) (19)% $(33) (5)% Communications Infrastructure and Data Center $316 $277 $175 $141 81% $39 14% Home and Industrial IoT $384 $331 $258 $126 49% $53 16% Automotive $368 $333 $306 $62 20% $35 11% Technology Services $220 $201 $197 $23 12% $19 9% Revenue $1,899 $1,786 $1,688 $211 13% $113 6% 17 Q3 2026 Revenue by End Market ((Unaudited, in millions)
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Q3 2026 Revenue Mix by End Market 9(Unaudited) 45% 10% 15% 18% 12% 32% 17%20% 19% 12% $1.69B$1.90B Smart Mobile Devices Communications Infrastructure and Data Center Home and Industrial IoT Automotive Technology Services 18 Totals may not sum to 100% due to rounding Q3 2025Q3 2026
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Capital Allocation ▪ We continue to expect non-IFRS adjusted free cash flow margin(1) of approximately 10% for the full year 2026. ▪ GF's Board of Directors approved a $0.12 per share quarterly dividend, payable on January 14, 2027 to shareholders of record as of December 22, 2026. ▪ During the third quarter, GF repurchased $100 million of its ordinary shares. Year-to-Date 2026 (in $ millions) Cash flow from operations $1,288 Capital expenditures $1,024 (19% of Revenue) Non-IFRS Capital expenditures net of government grants(1) $922 (17% of Revenue) Non-IFRS Adjusted FCF(1) $366 (7% of Revenue) Cash, cash equivalent and marketable securities $3.2B at the end of Q3’26 (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. 19
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20 Outlook
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Q4 2026 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 Reform 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 expenses, operating profit as a percent of revenue, 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 $52 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 $(5) million and $1 million for the fourth quarter 2026. Also included in IFRS and Non-IFRS diluted EPS is income tax expense which we estimate will be between $44 million and $68 million for the fourth quarter 2026. We have not included the impact of expected non-cash charges in non-operating expense for additional common share issuances to the USG based on recent announcements as the timing and amount of these charges are uncertain. IFRS Share-Based Compensation(3) Non-IFRS(2) Net Revenue $2,000 ± $25 Gross Margin(2) 30.7% ± 100bps ~80bps 31.5% ± 100bps Operating Expenses(2) $287 ± $10 ~$52 $235 ± $10 Operating Margin(2) 16.4% ± 170bps ~340bps 19.8% ± 170bps Diluted EPS(2)(4) $0.47 ± $0.05 ~$0.12 $0.59 ± $0.05 Fully Diluted Share Count ~575 21
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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 2026 Q2 2026 Q3 2025 Q3 2026 vs Q3 2025 Q3 2026 vs Q2 2026 Net revenue $ 1,899 $ 1,786 $ 1,688 $ 211 13% $ 113 6 % Gross profit $ 571 $ 505 $ 419 $ 152 36 % $ 66 13 % Gross margin 30.1% 28.3% 24.8% +530bps +180bps Non-IFRS gross profit(1) $ 597 $ 534 $ 439 $ 158 36 % $ 63 12 % Non-IFRS gross margin(1) 31.4% 29.9% 26.0% +540bps +150bps Operating profit $ 230 $ 174 $ 195 $ 35 18% $ 56 32 % Operating margin 12.1% 9.7% 11.6% +50bps +240bps Non-IFRS operating profit(1) $ 340 $ 298 $ 260 $ 80 31% $ 42 14 % Non-IFRS operating margin(1) 17.9% 16.7% 15.4% +250bps +120bps Net income (loss) $ (270) $ 167 $ 249 $ (519) (208%) $ (437) (262) % Net income margin (14.2%) 9.4% 14.8% (2,900)bp s (2,360)bp s Non-IFRS net income(1) $ 298 $ 256 $ 232 $ 66 28% $ 42 16 % Non-IFRS net income margin(1) 15.7% 14.3% 13.7% +200bps +140bps Diluted earnings (loss) per share ("EPS") $ (0.49) $ 0.30 $ 0.44 $ (0.93) (211) % $ (0.79) (263) % Non-IFRS diluted EPS(1) $ 0.53 $ 0.46 $ 0.41 $ 0.12 29% $ 0.07 15 % Non-IFRS adjusted EBITDA(1) $ 647 $ 587 $ 573 $ 74 13 % $ 60 10 % Non-IFRS adjusted EBITDA margin(1) 34.1% 32.9% 33.9% +20bps +120bps Cash from operations $ 341 $ 405 $ 595 $ (254) (43) % $ (64) (16) % Wafer shipments (300MM Equivalent) (in thousands) 647 625 602 45 7 % 22 4 % 23 Q3 2026 Financial Summary
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Statement of Operations Three Months Ended September 30, 2026 June 30, 2026 September 30, 2025 Net revenue $ 1,899 $ 1,786 $ 1,688 Cost of revenue 1,328 1,281 1,269 Gross profit $ 571 $ 505 $ 419 Operating expenses: Research and development 184 174 124 Selling, general and administrative 157 157 100 Operating expenses $ 341 $ 331 $ 224 Operating profit $ 230 $ 174 $ 195 Finance income (expense), net 9 9 18 Other income (expense), net (439) 13 8 Income tax (expense) benefit (70) (29) 28 Net income $ (270) $ 167 $ 249 EPS: Basic $ (0.49) $ 0.30 $ 0.45 Diluted $ (0.49) $ 0.30 $ 0.44 Shares used in EPS calculation: Basic 551 549 555 Diluted 551 556 559 (Unaudited, in millions, except per share amounts) 24
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Statements of Financial Position (Unaudited, in millions) As of September 30, 2026 December 31, 2025 Assets: Cash and cash equivalents $ 997 $ 1,809 Marketable securities 1,258 1,241 Receivables, prepayments and other 1,922 1,578 Inventories 1,581 1,577 Current assets 5,758 6,205 Property, plant, and equipment, net 6,987 7,223 Goodwill and intangible assets, net 1,931 1,368 Marketable securities 957 939 Right-of-use assets 601 569 Other assets 804 837 Non-current assets 11,280 10,936 Total assets $ 17,038 $ 17,141 Liabilities and equity: Current portion of long-term debt $ 99 $ 86 Other current liabilities 2,137 2,282 Current liabilities 2,236 2,368 Non-current portion of long-term debt 1,037 1,065 Non-current portion of lease obligations 524 487 Other liabilities 1,255 1,238 Non-current liabilities 2,816 2,790 Total liabilities 5,052 5,158 Shareholders’ equity: Common stock / additional paid-in capital $ 24,348 $ 24,231 Accumulated deficit (12,516) (12,381) Accumulated other comprehensive income 97 78 Non-controlling interests 57 55 Total liabilities and equity $ 17,038 $ 17,141 25
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Statement of Cash Flows (Unaudited, in millions) Three Months Ended September 30, 2026 September 30, 2025 Operating Activities: Net income (loss) $ (270) $ 249 Depreciation and amortization 335 314 Finance (income) expense, net and other 21 12 Deferred income taxes 88 (6) Issuance of shares to the USG 441 — Net change in working capital (272) 16 Other non-cash operating activities (2) 10 Net cash provided by operating activities $ 341 $ 595 Investing Activities: Purchases of property, plant and equipment and intangible assets $ (301) $ (189) Acquisitions, net of cash acquired (46) (212) Proceeds from government grants 96 45 Net sales (purchases) of marketable securities (5) (16) Other investing activities 1 43 Net cash used in investing activities $ (255) $ (329) Financing Activities: Repurchase of shares (100) — Proceeds from issuance of equity instruments, net of taxes paid 9 (20) Proceeds (repayment) of debt, net (21) (20) Cash paid for dividends (66) — Net cash used in financing activities $ (178) $ (40) Effect of exchange rate changes 2 — Net change in cash and cash equivalents $ (90) $ 226 Cash and cash equivalents at the beginning of the period 1,087 1,790 Cash and cash equivalents at the end of the period $ 997 $ 2,016 26
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(Unaudited, in millions, except per share amounts) IFRS to Non-IFRS Reconciliations (1) (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) Includes tax impact from foreign exchange revaluation of German deferred taxes. (4) Non-IFRS diluted shares of 558 million includes 7 million shares that are anti-dilutive for IFRS results. Three Months Ended September 30, 2026 Net Revenue Gross profit Selling, general & administrative Research & development Operating profit Other income (expense) Income tax (expense) benefit Net income Diluted EPS(4) As Reported $ 1,899 $ 571 $ 157 $ 184 $ 230 $ (439) $ (70) $ (270) $ (0.49) IFRS margins (1) 30.1% 12.1% (14.2%) Share-based compensation 14 (27) (9) 50 — (2) 48 0.09 Structural optimization(2) 4 (16) (2) 22 — — 22 0.04 Amortization of acquired intangibles and other acquisition related charges 8 (21) (9) 38 — (2) 36 0.06 Issuance of shares to the USG — — — — 441 — 441 0.79 Litigation claims — — — — (8) 1 (7) (0.01) Tax matters(3) — — — — — 28 28 0.05 Non-IFRS measures(1) $ 597 $ 93 $ 164 $ 340 $ (6) $ (45) $ 298 $ 0.53 Non-IFRS margins (1) 31.4% 17.9% 15.7% 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. (2) Structural optimization represents costs associated with employee workforce reductions, manufacturing footprint alignment and liquidation charges. (3) Includes $(10) million tax impact from foreign exchange revaluation of German deferred taxes. Three Months Ended June 30, 2026 Gross profit Selling, general & administrative Research & development Operating profit Other income (expense) Income tax (expense) benefit Net income Diluted EPS As Reported $ 505 $ 157 $ 174 $ 174 $ 13 $ (29) $ 167 $ 0.30 IFRS margins (1) 28.3% 9.7% 9.4% Share-based compensation 23 (38) (25) 86 — (3) 83 0.15 Structural optimization(2) 3 (4) — 7 — (2) 5 0.01 Amortization of acquired intangibles and other acquisition related charges 3 (23) (5) 31 — — 31 0.06 Revaluation and gain on sale of equity investments — — — — (25) 5 (20) (0.04) Tax matters(3) — — — — — (10) (10) (0.02) Non-IFRS measures (1) $ 534 $ 92 $ 144 $ 298 $ (12) $ (39) $ 256 $ 0.46 Non-IFRS margins (1) 29.9% 16.7% 14.3% (Unaudited, in millions, except per share amounts) IFRS to Non-IFRS Reconciliations(1) 28
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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(1) 29 (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 impact.
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Three Months Ended September 30, 2026 June 30, 2026 September 30, 2025 Net cash provided by operating activities $ 341 $ 405 $ 595 Less: Purchases of property, plant and equipment and intangible assets (301) (411) (189) Add: Proceeds from government grants 96 3 45 Non-IFRS total capital expenditures net of proceeds from government grants(1) $ (205) $ (408) $ (144) Non-IFRS adjusted free cash flow(1) $ 136 $ (3) $ 451 Non-IFRS adjusted free cash flow margin(1) 7.2 % (0.2) % 26.7 % (1) See "Financial Measures (Non-IFRS)" for further discussion on this Non-IFRS measure and why we believe it is useful. (Unaudited, in millions) 30 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, 2026 June 30, 2026 September 30, 2025 Net revenue $ 1,899 $ 1,786 $ 1,688 Net income (270) 167 249 Net income margin (14.2) % 9.4 % 14.8 % Depreciation and amortization 335 307 314 Finance expense 22 23 23 Finance income (31) (32) (41) Income tax expense (benefit) 70 29 (28) Share-based compensation 50 86 55 Structural optimization 15 7 6 Revaluation of equity investments — (25) (7) Litigation claims (8) — — Other acquisition related charges 23 25 2 Issuance of shares to the USG 441 — — Non-IFRS adjusted EBITDA(1) $ 647 $ 587 $ 573 Non-IFRS adjusted EBITDA margin(1) 34.1 % 32.9 % 33.9 % (Unaudited, in millions) 31
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In addition to the financial information presented in accordance with International Financial Reporting Standards ("IFRS"), this presentation 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 total capital expenditures net of proceeds from government grants, 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 total capital expenditures net of proceeds from government grants as purchases of property, plant and equipment and intangible assets less proceeds from government grants. 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, shares issued to the USG, 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. 32
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