Program advances long-term technology roadmap and reinforces company’s commitment to drive technology leadership of differentiated foundry solutions

SAN JOSE, Calif., May 19, 2022 – At its annual GF Technology Summit (GTS), GlobalFoundries (Nasdaq: GFS) (GF) today announced the launch of GF Labs, a new program that extends the development horizon of innovative, differentiated semiconductor technology and broadens the company’s portfolio of feature-rich and enablement solutions. GF Labs will focus on advancing new technology and long-term roadmap differentiation that will enable GF customers to develop innovative products and accelerate their time-to-market.

Semiconductor innovation is essential to the growth and development of technology megatrends that are reshaping the global economy including the Internet of Things (IoT), 5G, 6G, cloud computing, artificial intelligence (AI), quantum computing and next generation automotive, all of which are propelling semiconductor market revenue to more than $1.3 trillion by the end of the decade, according to International Business Strategies.

GF has a proven track record of innovating novel materials such as FD-SOI on 22FDX®, and novel device architectures that enabled GF Fotonix™, the company’s recently announced next generation silicon photonics platform.

GF Labs expands and accelerates this innovation momentum by creating an open framework of internal and external research and development initiatives that deliver a differentiated pipeline of market-driven process technology solutions for future data-centric, connected, intelligent and secure applications.

“Fostering semiconductor innovation is critical to delivering a differentiated technology portfolio that will continue to fuel emerging markets,” said Gregg Bartlett, senior vice president of Technology, Engineering and Quality, GF. “Our focus is on making sure we’re always developing the latest technologies that provide meaningful differentiation for our customers, not just in the near-term, but far into the next decade. The launch of GF Labs accelerates our pursuit of the innovation it takes to develop and deliver powerful technological advances for our customers.”

GF has a proven track record of building partnerships with startup innovators, industry consortia, material suppliers, universities and government entities worldwide. Leveraging GF’s extensive patent portfolio and deep technical expertise in digital, analog, mixed-signal, RF and embedded memory, GF Labs will harvest capabilities from a broad research platform including the Interuniversity Microelectronics Centre (IMEC) in Belgium, Fraunhofer in Germany, Defense Advanced Research Projects Agency (DARPA) in the U.S., and the Institute for Microelectronics in Singapore, along with a broad network of university partnerships.

Research and development within GF Labs is underway with a slate of innovative technology capabilities and solutions already in development such as radio frequency silicon on insulator (RFSOI) and silicon-germanium (SiGe). GF will continue to invest to expand and develop tailored solutions, with GF Labs serving as the R&D engine accelerating differentiated solutions based on wide-band-gap semiconductors that go beyond the traditional approach of shrinking transistors. Additional program details and partners will be announced in the second half of 2022.

Supporting Quotes

“We have a wide research portfolio in high-performance computing, cryogenic electronics, bioelectronics and biosensors, physical-layer security and AI-based design automation. Collaborating with GF allows us the freedom to explore innovative ideas, such as integrating advanced SiGe devices with high-performance CMOS technologies to help achieve the required configuration for next-generation wireless electronics.”

George White, Ph.D., Director for Strategic Partnerships, Georgia Institute of Technology

“For more than 10 years, we’ve been working collaboratively with GF to help drive technology innovation across multiple dimensions. The launch of GF Labs will enable tomorrow’s more intelligent and intuitive, more connected and secure, and more powerful and energy-efficient technology solutions. We are committed to continue collaborating on advanced semiconductor R&D with GF, working hand in hand to come up with solutions that make the high-tech industry grow.”

Luc Van den hove, President and CEO, imec

“IQE’s collaboration with GF on GaN accelerates the development of differentiated technology platforms that enable smart mobile devices, wireless infrastructure, power electronics and next generation displays.”

Americo Lemos, CEO, IQE

“Micledi has developed a unique and innovative solution for microLED arrays. Our technology is based on an innovative combination of III/V materials processing, 3D integration and 300mm silicon-based processing combined with a proprietary ASIC to provide a self-contained, compact monolithic AR display with high image quality and power efficiency. Our partnership with GF is enabling future AR devices and revolutionizing how digital information is delivered to consumers.”

Soeren Steudel, Chief Technology Officer, Micledi Microdisplays

“Congratulations to GF for their visionary endeavor with GF Labs. We are delighted to be collaborating with them as a member of the Semiconductor Alliance to accelerate research, innovation and prototyping, and help grow the U.S. semiconductor industry amid increased global competition. Collaboration among industry, government and academia in the

United States will facilitate growth of advanced manufacturing, strengthen supply chains and help protect intellectual property.”

Dr. Raj Jammy, Chief Technology Officer, MITRE Engenuity and Director, Semiconductor Alliance

“Ranovus is dedicated to developing application-specific optical engines that are energy and space efficient to address the massive growth in data center traffic, which is fueled by new compute, storage and networking paradigms. Ranovus’ monolithic Odin™ silicon photonics platform leverages the GF Fotonix™ process with its feature-rich libraries together with Ranovus’ own proprietary photonic and RF IP blocks, including innovative on-chip lasers, to enable an unprecedented high-density optical interconnect for datacenter applications. This is a great example of the GF and Ranovus teams collaborating to deliver leading-edge solutions.”

John Martinho, Senior Vice President of Research and Development, Ranovus

“SOITEC and GF’s close collaboration on state-of-the-art RFSOI and FD-SOI substrate development continues to set the pace for the introduction of market-leading solutions for each generation of mobile connectivity standards.”

Bernard Asper, Chief Operating Officer, SOITEC

“GF technologies made 5G mm-wave possible with 45RSOI and 22FDX® processes first used by universities and then by most companies in 5G and SATCOM. It is now taking steps to establish a leadership position in 6G. We’ve been collaborating on a broad set of high-risk, high-payoff research projects leveraging the unparalleled benefits of FD-SOI, RF-SOI and SiGe technology with demonstrated phased-arrays and transceivers up to 180 GHz and together, we are pushing the limits. GF has been a great partner, with an accurate design kit at greater than 100 GHz. They also support innovative work and enable the successful demonstration of complex 6G systems.”

Gabriel M. Rebeiz, Ph.D., Distinguished Professor and the Wireless Communications Industry Endowed Chair at the UC San Diego

About GF

GlobalFoundries, Inc. (GF) is one of the world’s leading semiconductor manufacturers. GF is redefining innovation and semiconductor manufacturing by developing and delivering feature-rich process technology solutions that provide leadership performance in pervasive high growth markets. GF offers a unique mix of design, development and fabrication services. With a talented and diverse workforce and an at-scale manufacturing footprint spanning the U.S., Europe and Asia, GF is a trusted technology source to its worldwide customers. For more information, visit www.gf.com.

Media Contact:

Erica McGill
GlobalFoundries
(518) 795-5240
[email protected]

MALTA, N.Y., May 19, 2022 – At its annual GF Technology Summit (GTS), GlobalFoundries (Nasdaq: GFS) (GF), today announced GF Connex, the industry’s most comprehensive and advanced portfolio of feature-rich radio frequency (RF) technology solutions for next generation wireless connectivity. GF Connex includes best in class design enablement and an extensive partner ecosystem for delivering breakthrough wireless-connected products. Products based on GF Connex are on the market today through GF’s collaborations with industry leaders and innovators including Broadcom, Fujikura, MediaTek, Orca Systems and Skyworks.

“Our ability to provide leadership solutions for wireless connectivity is rooted in our rich RF innovation heritage,” said Dr. Thomas Caulfield, president and CEO, GF. “The GF Connex portfolio enables our customers to deliver market-leading innovation, expanding the pervasive deployment of semiconductors powering a new generation of intelligent wireless products.”

When it comes to connectivity, the best wireless wins and a “one-size-fits-all” approach does not work. The GF Connex portfolio showcases purpose-built solutions based on GF’s RF silicon-on-insulator (SOI), FDXTM, silicon-germanium (SiGe) and fin field-effect transistor (FinFET) platforms fulfilling the application-specific requirements of wireless in smart mobile devices and communications infrastructure, home and industrial IoT, and automotive including:

• Smart Mobile Devices & Communications Infrastructure: GF Connex solutions sets are tailored to deliver the exacting requirements of 5G sub-6GHz (gigahertz) and mmWave applications, delivering outstanding performance, integration and area advantages, and exceptional power efficiency. This means GF customers can design cellular systems that enable smartphones to stay connected longer on a single charge, and cellular and satellite communications that deliver more robust, reliable and swift connections.
• Home and Industrial IoT: GF Connex solutions have application-specific features that deliver exceptional power efficiency, high performance edge computing and robust non-volatile memory integration. This enables GF customers to design tightly integrated, high performing, ultra-low power wireless system on chips (SoCs) that enable extremely power-efficient intelligent Internet of Things (IoT) products.
• Automotive: GF Connex mmWave solutions fulfill the highest automotive grade RADAR mission profiles, making it possible for GF customers to design innovative sensors that boast extended range, high resolution imagery at low latency and an unprecedented level of integration and power efficiency.

Customer demand for GF Connex solutions has grown 47% in the last two years, demonstrating strong market momentum. GF Connex solutions are in volume production today, with close to 100 billion chips shipped to date.

Customers strongly endorse GF Connex portfolio

“Broadcom’s Wireless Semiconductor Division supplies industry-leading performance, highly integrated RF front-end (RFFE) solutions that enable our customers to deliver the best possible 5G experience to their end users. We continuously improve product performance in an ever more complex and physically constrained environment. To achieve this, we combine the best available technologies. GF’s advances in SOI technology have been a key enabler to keep improving our product performance,” said Youngwoo Kwon, senior vice president and general manager of Broadcom’s Wireless Semiconductor Division.

“mmWave is not just important for 5G today but will be a key foundation for beyond 5G and 6G networks,” said Kenji Nishide, head of the Electronics Technologies Research and Development Center at Fujikura. “5G and future networks will require highly efficient base station transmitters that also deliver exceptional receiver performance to support demanding user requirements for data rate and network coverage, all of which are enabled by the GF Connex high-performance SiGe platform.”

“Advanced connectivity technologies like Wi-Fi 6 and Bluetooth 5.2 require more artificial intelligence (AI) processing power, energy efficiency and robust security,” said HW Kao, MediaTek corporate vice president and general manager of the manufacturing operations functional unit. “MediaTek’s collaboration with GF helps us meet those demands with all-in-one solutions that offer energy efficiency, reliability and high-performance connectivity in small form factor designs that are ideal for a wide range of IoT devices.”

“Orca Systems has developed the first fully integrated wireless system on chip (SoC) solution for direct to satellite IoT connectivity over a low-earth orbit (LEO) satellite network,” said John McDonough, CEO at Orca Systems. “GF’s RF leadership and significant integration and low power feature advantages were critical to bringing this innovative SoC to market.”

“Our long-standing collaboration with GF has provided Skyworks early access to best-in-class switch and low noise amplifier (LNA) technology enabling us to pioneer breakthroughs in RF front-end modules,” said Joel King, senior vice president and general manager of Mobile Solutions for Skyworks. “Skyworks is uniquely positioned to engineer and seamlessly integrate advancements to increasingly smaller, more efficient form factors, purpose-built and customized for specific end markets and applications, including next-generation mobile devices and IoT applications.”

Additional customer RF news:

• GlobalFoundries and Motorola Solutions Announce Strategic Agreement for Chip Supply
• GlobalFoundries and Qualcomm Sign Agreement to Deliver Advanced 5G RF Front-End Products

About GF

GlobalFoundries, Inc. (GF) is one of the world’s leading semiconductor manufacturers. GF is redefining innovation and semiconductor manufacturing by developing and delivering feature-rich process technology solutions that provide leadership performance in pervasive high growth markets. GF offers a unique mix of design, development, and fabrication services. With a talented and diverse workforce and an at-scale manufacturing footprint spanning the U.S., Europe and Asia, GF is a trusted technology source to its worldwide customers. For more information, visit.

Media Contact:

Erica McGill
GlobalFoundries
(518) 795-5250
[email protected]

2022年5月19日

纽约州马耳他，2022年5月19日 – 格芯®（GF®）（纳斯达克股票代码：GFS）今日在年度格芯技术峰会(GTS)上宣布推出GF Connex，这是一个功能丰富的射频(RF)技术解决方案产品组合，该系列解决方案功能先进而全面，可助力实现下一代无线连接。GF Connex包括出色的设计实现和广泛的合作伙伴生态系统，能够提供突破性的无线连接产品。格芯(GF)之所以能够在今天向市场推出基于GF Connex的产品是与Broadcom、Fujikura、联发科、Orca Systems和Skyworks等业界领导者和创新者合作的成果。

格芯(GF)总裁兼首席执行官Thomas Caulfield博士表示：“我们之所以能够提供领先的无线连接解决方案，要归功于格芯致力于射频技术创新的悠久传统。借助GF Connex产品组合，我们的合作伙伴能够提供市场领先的创新，扩大半导体产品的普及部署，推动新一代智能无线产品的发展。”

就连接而言，最好的无线解决方案才能获胜，“万能的”方法并不奏效。GF Connex产品组合基于格芯(GF)的绝缘体上硅(SOI)、FDXTM、锗硅 (SiGe)和FinFET平台提供了量身定制的解决方案，可满足智能移动设备和通信基础设施、家庭和工业物联网、汽车领域针对特定应用的无线要求，具体包括：

· 智能移动设备和通信基础设施：GF Connex解决方案组合是量身定制的，完全符合5G sub-6GHz和毫米波应用的要求，在性能、集成和占用面积方面具备显著优势，并且提供出色的能效。这意味着，格芯(GF)的客户能够设计出更出色的蜂窝系统，让智能手机可在单次充电后更长时间地保持连接，同时客户还能让蜂窝和卫星通信提供更加稳定、可靠、快速的连接。

· 家庭和工业物联网：GF Connex解决方案具有特定于应用的功能，不仅提供出色的能效和高性能的边缘计算，而且还支持可靠的非易失性存储器集成。这让格芯(GF)的客户能够设计紧密集成、超低功耗的高性能无线片上系统(SoC)，从而打造高能效的智能物联网(IoT)产品。

· 汽车：GF Connex毫米波解决方案能够满足最高的汽车级RADAR应用要求，这让格芯(GF)的客户能够设计创新的传感器，不仅具有扩大的传输范围，能够以非常低的延迟提供高分辨率图像，而且提供出色的集成度和能效。

过去两年内，客户对GF Connex解决方案的需求增长了47%，该产品系列在市场上保持迅猛增长态势。GF Connex解决方案目前已经投入量产，迄今出货量已达近1000亿件。

客户对GF Connex产品组合给予高度肯定

Broadcom高级副总裁兼无线半导体部门总经理Youngwoo Kwong表示：“Broadcom的无线半导体部门提供了行业领先的高集成度高性能射频前端(RFFE)解决方案，让我们的客户能够为最终用户提供出色的5G体验。我们不断在日益复杂且物理空间受限的环境中改进产品性能。为了实现这个目标，我们结合采用各种合适的可行技术。格芯(GF)在SOI技术领域取得了很大进步，这也是我们持续改进产品性能的关键助力。”

Fujikura电子技术研发中心主管Kenji Nishide说道：“毫米波不仅对于当前的5G非常重要，还将是未来5G和6G网络的重要基础。5G和未来网络不仅需要高效的基站发射器，还要具有出色的接收器性能，以满足用户对数据速率和网络覆盖的苛刻要求，GF Connex高性能SiGe平台能够让这一切成为现实。”

联发科公司副总裁兼制造运营职能部门总经理HW Kao表示：“Wi-Fi 6和蓝牙5.2等先进连接技术需要更多的人工智能(AI)处理能力、更高的能效和更强大的安全性。与格芯(GF)的合作帮助我们利用一体化解决方案满足了这些需求，这些解决方案不仅能提供高能效、高可靠性和高性能连接，而且外形体积小巧，因而适用于各种各样的物联网设备。”

Orca Systems首席执行官John McDonough表示：“Orca Systems开发出了完成集成的无线片上系统(SoC)解决方案，用于通过低轨道(LEO)卫星网络直接与卫星物联网进行连接。格芯(GF)在射频技术领域处于领先地位，而且在集成和低功耗特性方面具有显著优势，这些对于我们向市场推出该创新SoC产品至关重要。”

Skyworks高级副总裁兼移动解决方案部门总经理Joel King表示：“与格芯(GF)的长期合作让Skyworks能够及早获得先进的开关和低噪声放大器(LNA)技术，从而能够在射频前端模块方面率先取得突破。Skyworks具备独特的优势，能够将先进技术无缝集成到体积不断缩小且更加高效的芯片中，这些芯片专门针对特定终端市场和应用而定制，包括下一代移动设备和物联网应用。”

其他客户射频领域新闻:

• 格芯和摩托罗拉系统公司宣布签订芯片供应战略协议
• 格芯与高通签署协议，合作开发先进的5G射频前端产品

GF Chip Technology Enables Interoperable, Clear Communication in Land Mobile Radios

MALTA, N.Y. and CHICAGO, IL., May 19, 2022 – GlobalFoundries Inc. (GF) (Nasdaq: GFS) and Motorola Solutions (NYSE: MSI) today announced a long-term agreement to safeguard the supply of innovative chip solutions for Motorola Solutions’ radios, which are widely used by public safety, critical infrastructure and enterprise organizations across the world.

Motorola Solutions is a leading global provider of two-way radios for first responders, providing secure, flexible and reliable emergency communications. Several critical chips the company designs for its public safety, professional and commercial radios are manufactured in Vermont by GF, a world leader in the manufacturing of silicon-germanium (SiGe) products, which are used in generations of wireless and wired networks. GF’s SiGe process technology enables the highly reliable, long-range, secure and clear communications vital to police, fire and other first responders.

“Millions of first responders, utilities, infrastructure providers and businesses rely on Motorola Solutions radios for everyday and emergency communications, and it is essential that we maintain supply of these critical components,” said Scott Mottonen, senior vice president of products, Motorola Solutions. “Our long-term relationship with GF provides important capabilities, reliable U.S.-based manufacturing and added assurance that we will continue to meet the safety and security needs of our customers across the globe.”

“Our commitment to the development and manufacturing of mission-critical technologies that enables our customers to differentiate their products is in our DNA. Through long-term agreements, we provide assured supply of highly reliable and vital chips used in millions of mission-critical products worldwide. A great example of this is our collaboration with Motorola Solutions on their two-way radios, which are relied upon by first responders everywhere,” said Dr. Bami Bastani, senior vice president and general manager, mobile and wireless infrastructure strategic business unit at GF. “We are gratified to serve the industry with feature-rich solutions but also the innovations in RF technology that deliver low noise and high power and efficiency to allow for clear and long-range communications in highly demanding situations.”

About GF

GlobalFoundries (GF) is one of the world’s leading semiconductor manufacturers. GF is redefining innovation and semiconductor manufacturing by developing and delivering feature-rich process technology solutions that provide leadership performance in pervasive high growth markets. GF offers a unique mix of design, development and fabrication services. With a talented and diverse workforce and an at-scale manufacturing footprint spanning the U.S., Europe and Asia, GF is a trusted technology source to its worldwide customers. For more information, visit www.gf.com.

About Motorola Solutions

Motorola Solutions is a global leader in public safety and enterprise security. Our solutions in land mobile radio communications, video security & access control and command center software, bolstered by managed & support services, create an integrated technology ecosystem to help make communities safer and businesses stay productive and secure. At Motorola Solutions, we’re ushering in a new era in public safety and security. Learn more at www.motorolasolutions.com.

GlobalFoundries Media Contact:

Erica McGill
+1 518-795-5240
[email protected]

Motorola Solutions Media Contact:

Neda Veselinovic
+1 773-387-4397
[email protected]

MALTA, N.Y., May 11, 2022 — GlobalFoundries (NASDAQ: GFS) today announced that it will participate in the following upcoming investor conferences.

• Tuesday, May 24, 2022, 10:10am ET – J.P. Morgan Global Technology, Media and Communications Conference
• Monday, June 6, 2022, 10:15am ET – Baird Global Consumer, Technology, and Services Conference
• Wednesday, June 8, 2022, 3:05pm PT – Bank of America Global Technology Conference
• Tuesday, June 14, 2022, 11:30am BST – Nasdaq Investor Conference

Live webcasts and replays of the presentations will be accessible from the Investor section of GF’s website at investors.gf.com.

2022 Capital Markets Day

GF will host its first Capital Markets Day on August 10, 2022, in New York City. The Capital Markets Day event will include business, manufacturing, technology, and finance updates from GF executives. Additional details for the 2022 Capital Markets Day will be provided closer to the date of the event.

About GlobalFoundries

GlobalFoundries Inc. (GF) is one of the world’s leading semiconductor manufacturers. GF is redefining innovation and semiconductor manufacturing by developing and delivering feature-rich process technology solutions that provide leadership performance in pervasive high growth markets. GF offers a unique mix of design, development and fabrication services. With a talented and diverse workforce and an at-scale manufacturing footprint spanning the U.S., Europe and Asia, GF is a trusted technology source to its worldwide customers. For more information, visit www.gf.com.

For further information, please contact:
                 
[email protected]

Revenue up 37% year-over-year, Record Gross Margin and Net Income

MALTA, N.Y., May 10, 2022 (GLOBE NEWSWIRE) — GlobalFoundries Inc. (GF) (Nasdaq: GFS) today announced preliminary financial results for the first quarter ended March 31, 2022.

Key First Quarter Financial Highlights

• Record revenue of $1.94 billion, up 37% year-over-year.
• Record gross margin of 24.2% and adjusted gross margin of 25.3%.
• Record operating margin of 11.6% and adjusted operating margin of 14.4%.
• Record net income of $178 million and adjusted net income of $232 million.
• Record adjusted EBITDA margin of 36.0%.
• Cash and cash equivalents of $3.26 billion.

“In the first quarter the GF team delivered on its commitments to customers and shareholders,” said GF CEO Dr. Thomas Caulfield. “We grew revenue 37% year-over-year, delivered record profitability and made significant progress towards our long-term financial model. Despite global supply chain challenges, the GF team continues to execute to plan, and we remain on track to deliver a strong year of growth and profitability.”

Recent Business Highlights:

• GF announced GF Fotonix™, its next-generation silicon photonics platform. GF is collaborating with industry leaders including Broadcom, Cisco Systems, Inc, Marvell and NVIDIA, along with breakthrough photonic leaders including Ayar Labs, Lightmatter, PsiQuantum, Ranovus and Xanadu, to deliver innovative, unique, feature-rich solutions to solve some of the biggest challenges facing data centers today.
• GF announced the expiration of the waiting period under the Hart-Scott-Rodino Antitrust Improvements Act of 1976, as amended (“HSR”), for Onsemi’s proposed acquisition of GF’s East Fishkill, NY site and fabrication facilities announced in 2019. The expiration of the HSR waiting period satisfies all of the necessary regulatory requirements and the transaction is on track to close at the end of 2022 as planned.
• GF announced the appointment of Bobby Yerramilli-Rao as an independent director of the company’s board of directors. Dr. Yerramilli-Rao is currently chief strategy officer and corporate vice president at Microsoft, where he is responsible for developing and driving growth-oriented strategies.
• As part of GF’s celebration of Women’s History Month and International Women’s Day, GF hosted its 3rd GlobalWomen conference, celebrating the vital role of women in technology.  

Unaudited Summary Quarterly Results (in millions USD, except per share amounts and wafer shipments)¹

¹Adjusted gross profit, adjusted operating profit (loss), adjusted net income (loss), adjusted diluted EPS, and adjusted EBITDA are adjusted non-IFRS metrics; please see the reconciliation of IFRS to adjusted non-IFRS metrics in the section “Unaudited Reconciliation of IFRS to Adjusted non-IFRS” below.

Summary of Second Quarter 2022 Outlook (unaudited, in millions USD except per share amounts)¹

¹The guidance provided above 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 currently available. GF has not provided a reconciliation of its Second Fiscal Quarter outlook for adjusted Non-IFRS EBITDA and related Margin because estimates of all of the reconciling items cannot be provided without unreasonable efforts. Certain factors that are materially significant to GF’s ability to estimate these items cannot be reasonably predicted.

Unaudited Consolidated Statements of Operations

Unaudited Consolidated Statements of Financial Position

¹Audited annual statement of consolidated financial position
²Unaudited interim statement of consolidated financial position

Unaudited Consolidated Statements of Cash Flows

Unaudited Reconciliation of IFRS to Adjusted Non-IFRS

Unaudited Reconciliation of Net Income (Loss) to Adjusted EBITDA

Adjusted Financial Measures (Non-IFRS)

In addition to the financial information presented in accordance with IFRS, this press release includes the following adjusted non-IFRS metrics: adjusted gross profit (loss), adjusted operating profit (loss), adjusted net income (loss), adjusted diluted EPS and adjusted EBITDA. We define adjusted gross profit (loss) as gross profit (loss) adjusted for share-based compensation expense. We define adjusted operating profit (loss) as profit (loss) from operations adjusted for share-based compensation expense. We define adjusted net income (loss) as net income (loss) adjusted for share-based compensation expense. We define adjusted diluted EPS as adjusted net income (loss) divided by the dilutive shares. We define adjusted EBITDA as net income (loss), excluding the impact of finance expense, income tax expense, depreciation, amortization, share-based compensation expense, transaction gains and associated expenses, restructuring charges and litigation settlements.

We believe that in addition to our results determined in accordance with IFRS, these adjusted non-IFRS 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 adjusted 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. For further information regarding these non-IFRS measures, please refer to “Unaudited Reconciliation of IFRS to Adjusted Non-IFRS” table above.

Adjusted 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 adjusted 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 a comparative measure.

Conference Call and Webcast Information

GF will host a conference call with the financial community on Tuesday, May 10, 2022 at 4:30 p.m. U.S. Eastern Time (ET) to review the First Quarter 2022 results in detail. Interested parties may join the scheduled conference call by dialing the following numbers:

Within the U.S.:                 1-877-788-0411
Outside the U.S.:                 1-615-489-8522
Participant Passcode:         8265345

The call will be webcast and can be accessed from the GF Investor Relations website https://investors.gf.com. A replay of the call will be available on the GF Investor Relations website within 24 hours of the actual call.

About GlobalFoundries

GlobalFoundries® (GF®) is one of the world’s leading semiconductor manufacturers. GF is redefining innovation and semiconductor manufacturing by developing and delivering feature-rich process technology solutions that provide leadership performance in pervasive high growth markets. GF offers a unique mix of design, development and fabrication services. With a talented and diverse workforce and an at-scale manufacturing footprint spanning the U.S., Europe and Asia, GF is a trusted technology source to its worldwide customers. For more information, visit www.gf.com.

Forward-looking Statements

This press release includes “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 the COVID-19 pandemic and supply chain disruptions due to the Russia/Ukraine conflict and actions taken in response to such events; the market for our products may develop more slowly than expected or than it has in the past; 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 damage our reputation; we could experience interruptions or performance problems associated with our technology, including a service outage; and global economic conditions could deteriorate. 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.

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 2021 Annual Report on Form 20-F, current reports on Form 6-K and other reports filed with the Securities and Exchange Commission. Copies of our SEC filings are available on our Investor Relations website, investors.gf.com, or from the SEC website, www.sec.gov.

For further information, please contact:
                 
Investor Relations
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MALTA, N.Y., April 22, 2022 – GlobalFoundries Inc. (Nasdaq: GFS) (GF) today announced the expiration of the waiting period under the Hart-Scott-Rodino Antitrust Improvements Act of 1976, as amended (“HSR”), for onsemi’s proposed acquisition of GF’s East Fishkill, NY site and fabrication facilities announced in 2019.

The expiration of the HSR waiting period satisfies all of the necessary regulatory requirements and the transaction is on track to close at the end of 2022 as planned.

The three-year transition period has enabled GF to further optimize its assets globally as it intensified investments in the differentiated technologies that are fueling the company’s growth while securing a long-term future for the East Fishkill facility and its employees.

About GF

GlobalFoundries® (GF®) is one of the world’s leading semiconductor manufacturers. GF is redefining innovation and semiconductor manufacturing by developing and delivering feature-rich process technology solutions that provide leadership performance in pervasive high growth markets. GF offers a unique mix of design, development and fabrication services. With a talented and diverse workforce and an at-scale manufacturing footprint spanning the U.S., Europe and Asia, GF is a trusted technology source to its worldwide customers. For more information, visit www.gf.com.

Contact:

Laurie Kelly
GlobalFoundries
(518) 305 1399
[email protected]

Investor Relations

[email protected]