GlobalFoundries and Qualcomm Technologies, Inc. announced they are more than doubling their existing strategic global long-term semiconductor manufacturing agreement previously entered into by GF's and Qualcomm's respective subsidiaries. Today's announcement secures wafer supply and commitments to support U.S.-based manufacturing through capacity expansion at GF's most advanced semiconductor manufacturing facility, in Malta, New York. The announcement was made in Washington D.C. at a CEO Summit co- hosted by GF, Ford Motor Company, and Applied Materials, which included National Economic Council Director Brian Deese, Under Secretary of Defense for Acquisition & Sustainability Dr. William LaPlante, and National Security Council Senior Director for Technology & National Security, Tarun Chhabra underscoring the importance of domestic manufacturing to national and economic security.

The Summit included CEOs and senior leaders from across the semiconductor supply chain from tool and wafer manufacturers to key suppliers to end users of chips manufactured in the U.S. GF has been manufacturing Qualcomm Technologies' feature rich, high-performance chips for many years, reaching across its global footprint. In 2021, Qualcomm Global Trading Pte. Ltd. (QGT), a subsidiary of Qualcomm Technologies, was one of GF's first customers to secure their supply with a long-term agreement covering multiple geographies and technologies.

That agreement secured 22FDX capacity at GF's Dresden facility and will now include capacity at GF's recently announced facility in Crolles, France, making QGT an anchor customer in GF's leading European proprietary technology. QGT has also secured capacity in GF's market leading 8SW radio-frequency silicon-on-insulator (RFSOI) technologies for Sub 6GHz 5G front-end module (FEM) which will be primarily manufactured in GF's Singapore facilities, where site expansion plans are well underway with full ramp expected in early 2023. Today's announcement specifically extends QGT's U.S. based collaboration with GF in FinFET for 5G transceivers, Wi-Fi, Automotive and IoT connectivity.

GF's FinFET platforms provide a best-in-class combination of performance, power and area that are well-suited for high-end Mobile, Automotive and IoT applications. The?global demand for semiconductors is growing at an?unprecedented rate, and GF is responding to this growth through a series of strategic long-term agreements with existing and new customers and simultaneously expanding global capacity to meet customer demand in partnership with federal and local governments. Today's announcement with Qualcomm Technologies is an important step consistent with this collaborative model.